Marfrig Preps Sale of QSR Assets

The Martin-Brower Company is offering to pay $400m to acquire Brazilian food company Marfrig’s quick service restaurants (QSR), logistics assets and other business from its subsidiary Keystone Foods. By divesting these assets, Marfrig and Keystone hope to focus on their core protein businesses. The company says that it will keep its position in the recently announced joint venture with Cofco as it looks to develop its logistics business in China. “Our distribution business is world class,” Larry S. McWilliams, CEO of Keystone Foods, said in a statement. “However, we feel that by strategically focusing our resources on our proteins business, we will be able to add greater value to our customers in the QSR market.” The sale is still subject to regulatory approvals and due diligence.