Mexico's food company Sigma Alimentos said it is finalizing a takeover plan for Spain's meat processing firm Campofrio. This was according to a report published by Reuters today.
Sigma Alimentos is an affiliate of industrial holding firm Alfa. Sigma is the biggest producer and distributor of frozen food in Mexico, according to its company profile. The company's products include cheese, ham, yogurt, and other refrigerated foods. The firm operates in Central and South America, Mexico, and the United States, said the report.
The said plan for a takeover came after Sigma signed an agreement to purchase 40% of the Spanish food firm from its current shareholders. Oaktree Capital, La Caixa, and chairman Pedro Ballve are the current shareholders of company. La Caixa has a 4.2% stake in Campofrio, the report explained.
Campofrio is the main company that provides meat processing service in Europe. The company presently has a market capitalization of EUR626 million, Reuters said.
Join the Conversation