Marfrig, BRF merge to form MBRF in a major food industry shake-up
New entity MBRF becomes Brazil’s 7th largest company with US$152 billion in combined annual revenue. The merger brings together two of Brazil’s biggest meat and food processing firms into a multi-protein global player.
BRAZIL – Marfrig Global Foods and BRF have officially merged their operations to establish a new company named MBRF, creating one of the largest food businesses globally.
The merger unites their multi-protein product lines and brand portfolios under a single entity, with the companies citing strategic, operational, and tax-related benefits as key motivations.
According to a joint statement, MBRF will have a workforce of 130,000 and operations in 117 countries, positioning it as the seventh-largest company in Brazil by revenue.
The companies report that the new group generated a combined net revenue of US$152 billion (R$782 billion) over the past 12 months.
Marcos Molina, who will serve as Controller and Chairman of the Board for MBRF, described the merger as a necessary step to drive growth and unlock synergies across global markets.
He added that the formation of MBRF marks the beginning of a new phase aimed at building long-term value.
The announcement follows a strong financial year for both companies, with BRF reporting its highest-ever annual profit in 2024.
Financial outlook for the two companies
BRF’s net income rose to US$637 million (R$3.7 billion), up 297.5% from the previous year, while EBITDA increased by 155% to US$1.81 billion (R$10.5 billion).
In the fourth quarter alone, BRF’s net profit reached US$149 million (R$868 million), a 15% increase year-over-year.
The company attributed its quarterly performance to improved cost management, particularly in raw materials like corn, and secured 84 new export permits during the year.
Since 2022, BRF has gained a total of 175 new international market approvals, expanding its global reach.
Meanwhile, Marfrig reported a net income of US$571 million (R$2.8 billion) and an adjusted EBITDA of US$2.77 billion (R$13.6 billion) for 2024.
The company credited its results to a strategy focused on protein and geographic diversification and the development of value-added products.
Marfrig has also gained recognition in sustainability, being ranked the top performer in its sector by the FAIRR Initiative.
In addition, it earned the highest grade (A) across all three CDP environmental metrics: Climate Change, Water Security, and Forests, a first for the company.
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