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2014

MARFRIG Announces New Alliance with ConAgra Foods on Beef Jerky

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    SAO PAULO, Brazil, July 23 /PRNewswire-FirstCall/ -- Marfrig Group
 (Bovespa: MRFG3), one of the largest producers of beef and beef by-products
 in Latin America, announced today that it has acquired the Pemmican beef
 jerky brand and related production equipment from ConAgra Foods, Inc.
 through its subsidiary Mirab USA Inc. for USD 25 million in cash.
 
     Marfrig and ConAgra Foods have also entered into a sales and
 distribution agreement for the 5 years up to 20th July 2013 under which
 ConAgra Foods will sell and distribute the Pemmican brand beef jerky for
 Marfrig within its existing Consumer Products Division. Marfrig will also
 co-pack "Slim Jim" beef jerky for ConAgra Foods pursuant to a co-pack
 agreement between ConAgra Foods and Mirab USA. This agreement does not
 include the "Slim Jim" beef stick business.
 
     Marfrig has diversified sources to produce beef jerky from its units in
 Brazil, Argentina and Uruguay with a combined capacity of 27 tons/day and a
 packaging facility in Mirab USA.
 
     History of the brand
 
     Though the Pemmican brand has been around for only 35 years, its
 tradition goes back a few hundred. The word "pemmican" is Native American
 in origin and was used to describe a high-protein food source made from
 dried meat and berries.
 
     Because it was highly nutritious, spoil-resistant, and good for
 traveling, it was ideal food for their way of life and it became one of the
 most important survival tools of the early American frontier. Pemmican
 continues to be a favorite among everyday explorers, whether the
 exploration takes you only as far as across the city or around the world.
 
     "The acquisition of the Pemmican brand strengthens Marfrig's
 participation in the branded meat snacks market," says Ricardo Florence,
 Marfrig's IRO. In addition, the transaction will provide to the Group a
 wealthy partnership with ConAgra Foods in the United States, enhancing the
 Group's investment in food distribution, reaching its final clients with a
 well-known and traditional brand."
 
     "As one of the world's largest producers of beef, Marfrig can leverage
 its capabilities to produce Pemmican more efficiently, while also investing
 more heavily in innovation and marketing," said Paul Lapadat, president,
 Consumer Foods Snacks, ConAgra Foods. "We remain committed to our snacks
 business, and will be focusing our energies moving forward on our core
 snacks portfolio, which includes Slim Jim and our popcorn and seeds
 products."
 
     About Marfrig:
 
     Marfrig Frigorificos e Comercio de Alimentos S.A. (Bovespa: MRFG3), is
 one of the leading beef and beef-product producers in Latin America.
 Marfrig works with an innovative service concept always tuned to the market
 needs in the development and application of new technologies and with a
 presence in several sectors including FOOD SERVICE and industrialized
 products. As of July 2008, the Marfrig Group has 18 cattle slaughtering
 units, 18 processing plants, 3 lamb slaughtering units, 5 hog slaughtering
 units, 5 poultry slaughtering units and 2 trading houses, with a
 slaughtering capacity of 21,100 heads of cattle/day, 6,400 hogs/day,
 780,000 birds/day and 8,400 lambs/day and 1,030 tonnes/day of further
 processed and industrialized products, consolidating its positioning in the
 market as one of the world's leading meatpacking companies.
 
     The Marfrig Group has over 24,000 employees, including the
 international companies. It also has a distribution center in Santo Andre
 (SP) and a tannery in Promissao (SP) with a processing capacity for 1,500
 hides/day, besides termination feed lots located in the cities of Guapiacu,
 Pereira Barreto and Tangara da Serra. For more information, please visit
 www.marfrig.com.br/ri
 
     About ConAgra:
 
     ConAgra Foods, Inc., (NYSE:   CAG) is one of North America's leading
 packaged food companies, serving consumer grocery retailers, as well as
 restaurants and other foodservice establishments. Popular ConAgra Foods
 consumer brands include: Banquet, Chef Boyardee, Egg Beaters, Healthy
 Choice, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's,
 PAM and many others. For more information, please visit
 www.conagrafoods.com
 
 
Media Information MZ Media Relations Mariela de Castro Aguilar/Simone Luciano (55 11) 3529-3866/3883 imprensa@mz-ir.com

SOURCE Marfrig Group

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