May 7 (SeeNews) - Brazilian food company BRF said that it has concluded the sale of Banvitfoods to Romanian poultry meat producer and distributor Aaylex Group for 20.3 million euro ($24.5 million).
The transaction was carried through indirectly controlled subsidiaries Nutrinvestment BV and Banvit Bandirma Vitaminli Yem Sanayii AS, BRF said in a regulatory disclosure file posted on its website on May 4.
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The purchase price is subject to post-closing adjustments which are common to transactions of such nature, it added.
BRF signed the purchase agreement with Aaylex Group on December 17.
Banvitfoods is engaged in the activities of manufacture of animal feed and egg hatchery in Romania.
Founded in 1934, BRF sells its products in over 150 countries, on all five continents, and employs over 100,000 globally.
Aaylex Group is a privately owned Romanian corporate conglomerate whose main business units are Avicola Buzau, Aaylex Prod and Aaylex Distribution. It employs over 2,000 in its production units located in Bucharest and nine counties. Its best known local brand is Coco Rico.
($=0.8298 euro)