May 26, 2020 / 11:36 PM / a month ago

Brazilian meatpacker Marfrig and ADM create vegetable-based products JV

SAO PAULO, May 26 (Reuters) - The board of Brazilian meatpacker Marfrig Global Foods SA approved on Tuesday the creation of a new joint venture with Archer Daniels Midland Co to sell vegetable-based products to retail and food service clients.

In a securities filing, Marfrig said it will own 70% of the joint venture and will be responsible for production in its units in Varzea Grande, Mato Grosso, and North America. ADM will supply technical knowledge to develop vegetable-based products in its unit in Enderlin, North Dakota. (Reporting by Tatiana Bautzer; Editing by Kim Coghill)

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