Saudi Arabia’s state-owned entity Saudi Agricultural and Livestock Investment Company (SALIC) has entered into a partnership with Brazilian livestock company Minerva Foods, in order to expand their services into Australia.
Under this deal, the Saudi PIF-owned joint-stock company along with Minerva Foods will set up a joint venture, for the processing, and exporting of beef and lamb products. Further, Minerva will supply its products to SALIC for distribution in the Middle East and Asia region.
Minerva further added that the collaboration will reinforce its exposure in those areas, adding that the Middle East and Asia regions accounted for about 55 percent of its beef exports in the first nine months of last year.
Minerva Foods said in a statement, “The company believes that Australia uniquely complements our operations in South America, maximizing sales opportunities and operating synergies, reducing risks and contributing to our strategy of consolidation in the animal protein export market.”
“Minerva Foods is one of the largest meat production companies in South America and the second-largest exporter in Brazil as it produces more than 1 million tons of meat annually. Minerva Foods mainly serves the demands of foreign markets and during this year, it has already exported 750,000 tons of red meat to more than 100 countries around the globe,” commented SALIC
Founded in 1992, Minerva offers healthy and nutritious products, which are marketed to customers all over the world, through its 9 distribution centers and 16 international offices. According to the company, it is committed to the sustainable future of food on the planet.
SALIC, established in 2012, has been operating in the agricultural and livestock investment sector and its strategic goal is to secure imports for essential food commodities, as part of the Kingdom’s food security strategy.