Canadian Packaging

Mexican firm makes $908 million bid for Spanish meat processor

By Canadian Packaging Staff   

General Flexibles Campofrio meat processing Shuanghui International Holdings Ltd. Sigma Alimentos Smithfield Foods Inc. take-over bid

With a solid takeover bid, Sigma Alimentos looks to gain move into European market.

According to reports from Bloomberg, Mexican food company Sigma Alimentos has made a $908 million takeover bid for Campofrio, a meat processor headquartered in Spain.

For Sigma Alimentos, this is an opportunity for them to grab a foothold in to the lucrative European market.

Shuanghui International Holdings Ltd., China’s largest meat processor, is Campofrio’s largest shareholder with a 37 percent stake when it acquired Virginia-based Smithfield Foods Inc. in September of 2013.

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