SAO PAULO, April 16 (Reuters) - Brazilian food processing company BRF SA said on Thursday it would invest $19 million for a 49 percent stake in a joint venture in Singapore that will focus on expanding the supply of processed and value-added foods on the local market.
BRF’s partner in the venture will be Singapore Food Industries, a subsidiary of SATS Ltd, the largest provider of airport services in Southeast Asia. The new company plans to lease two meat processing plants and a distribution center in the country.
BRF, also the world’s largest poultry exporter, has been working to expand its global reach as a supplier of foods, following in the footsteps of other big Brazilian exporters such as meat packer JBS SA and miner Vale SA. (Reporting by Reese Ewing; Editing by Jeffrey Benkoe)