(1) Includes Quickfood’s units, whose acquisition was announced in December 2018, but only concluded on 1/2/2019. | (2) Includes the processing unit at Várzea Grande (MT), whose acquisition process started in December 2018 and concluded in April 2019.
For Marfrig Global Foods, 2018 was a year marked by a strategic business redirection. The Company's operations began to focus on beef protein and higher added-value products. The low-leverage capital structure became another priority, a level that already was reached in the period and subsequently has been maintained.
Strategic movements during the year
In the United States
These moves led Marfrig to become the world's second largest beef company in terms of capacity in 2018 and the largest hamburger producer in the world, with an output of more than 230,000 tons per year.
They also contributed to the significant improvement in the capital structure, which closed the year with leverage of 2.39x (net debt/EBITDA), one of the lowest levels in the sector.
The strategic moves made in 2018 consolidated Marfrig's position in the Americas axis. Hence, the operations began to be divided into two platforms: North and South America. In both, it has a diversified production structure, capable of serving the main and most profitable consumer markets in the world.
It encompasses businesses in the United States: National Beef — the fourth-largest and most efficient beef company in the United States, acquired in June 2018 — and the hamburger plant in North Baltimore, Ohio, one of the largest and most technologically updated facility for this product in the United States. The production capacity is 106,000 tons of hamburger meat/year, frozen and in natura, earmarked for the foodservice industry. National Beef accounts for 13% of the country's total slaughter. It has two plants for this purpose, which together have a capacity of 12,000 animals/day, which totals more than 3 million head/year.
Activities distributed between Brazil, Uruguay, Argentina and Chile: