Mexican firm makes $908 million bid for Spanish meat processor
By Canadian Packaging StaffGeneral 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.