Mexican firm makes $908 million bid for Spanish meat processor
With a solid takeover bid, Sigma Alimentos looks to gain move into European market.
Shuanghui International Holdings Ltd.
Smithfield Foods Inc.
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.