Foresun buys Latin beef-processing units

Chinese meat processor Foresun Group has agreed to buy three beef slaughterhouses and a livestock confinement unit in Argentina from Brazilian meatpacker Margrif Global Foods SA for $75 million.

Under the agreement, Black Bamboo Enterprises, a subsidiary of Foresun, will take over three meatpacking facilities in the towns of Hughes, Vivorata and Unquillo, all located in the central part of Argentina, Margrif announced in a regulatory filing.

The confinement unit, based in Monte Ralo, is also in the same area.