Perez Companc Buys Chile’s Friosa Meatpacker

Argentina’s Perez Companc group has bought one of Chile’s largest meatpackers – Frigoríficos O’Higgins (Friosa) – for an estimated $50 million to $70 million. The move is seen as a strategic one to take advantage of Chile’s worldwide trade agreements and the freedom of its cattle from foot and mouth disease, enabling it to sell boned meat to a wide range of markets. The Argentine company is particularly interested in Chile’s close trade ties with the European Union. Banchile Asesorias Financieras advised on the deal.