FERRERE assisted Foresun Group – a Chinese company dedicated to the processing and manufacturing of meat products – in the acquisition of Lorsinal, a slaughtering and meatpacking plant in Uruguay, owned by Uruguayan businessman Roberto Pérez. The transaction was structured as an equity purchase with deferred closing; the latter is expected to occur before the end of 2016, upon fulfillment of certain conditions by the parties.
This is Foresun’s second acquisition of a company owning a slaughtering and meatpacking plant in Uruguay. Foresun – also with FERRERE´s support - first acquired Frigorífico Rosario from local businessmen in 2015 (this deal was not disclosed at the time due to certain restrictions by the parties).
With this second acquisition, Foresun Group will hold fifth place in the Uruguayan cattle industry, with a participation of 6.1%. The group also owns several slaughtering and meat processing plants in Australia and Argentina.