Brazil based refrigerated and frozen products firm Sadia SA announced it had acquired Excelsior Alimentos. Sadia SA is currently a leading global producer of chilled and frozen food. Sadia SA’s refrigerated and frozen products include poultry, pork, beef, turkey and chicken. The firm boasts 16 distribution units located across 14 Brazilian states.

Sadia SA is as well engaged in convenience products, such as ready meals, pizza, pasta, margarine and desserts. Its operations include 18 farms for poultry and hog stock, hatcheries, pork breeding centers, slaughterhouses, processing units, animal feed production plants, representative offices and distribution centers. In addition, the Company operates an international unit in Kaliningrad, Russia.

The Brazilian firm has in recent years embarked on an expansion drive that has focused on acquisition investments. Two years ago, Sadia announced the acquisition of a 73.93 per cent stake in Baumhardt Comercio e Participacoes Ltda. Some of its expanded units include subsidiaries such as Big Foods Industria de Produtos Alimenticios Ltda, Sadia Industrial Ltda and Sadia Overseas Ltd.

Even so, the financial details of the transaction were not disclosed. Sadia however wrote to the Securities and Exchange Commission of Brazil (CMV) informing the competition monitor of the acquisition. The acquired business, Excelsior Alimentos has shown an impressive market performance in recent months. Excelsior reported net income of 33.1 million reals and loss of 617,000 reals. Sadia reiterated that it will not cancel the registration of Excelsior as a publicly-held company, in the next one year.

Excelsior Alimentos SA is a Brazil-based company engaged in the food processing sector. The Company’s product line includes ham, sausages, cold cuts and chicken products.

Excelsior industrial park is located in Santa Cruz do Sul, State of Rio Grande do Sul, comprehending a plant of processed food products with its own cold-room facilities. Excelsior has an annual production capacity of 16.2 thousand tons of processed products, 320 direct employees and its gross billings shall reach 61 million reals as of 2008.

State Capital CEO, Luca Longobardi was the Financial Advisor for Sadia SA in this transaction. State Capital is a leading independent Merchant bank with offices in USA and Brazil, focused on providing financial advice about significant mergers, acquisitions, restructuring, financing, capital raising, and private equity.  It was crucial in sealing the investment, coming in the wake of a plethora of others it has advised on.