Marfrig
{{Short description|Brazilian food processing company}}
{{Infobox company
| name = Marfrig Global Foods S.A.
| logo = Marfrig-novo.jpg
| type = Public
| traded_as = {{B3 (stock exchange)|cvm=20788|MRFG3}}
| foundation = {{sda|2000|05|23}}
| location_city = São Paulo
| location_country = Brazil
| key_people = Marcos Antonio Molina dos Santos (CEO)
| industry = Food Processing
| products = Foods & Beverages
| assets =
| revenue = {{increase}} US$ 24.5 billion (2024) {{Cite web |url=http://investing.businessweek.com/businessweek/research/stocks/financials/financials.asp?ticker=MRFG3:BZ&dataset=incomeStatement&period=A¤cy=US%20Dollar |access-date=2011-04-20 |title=MRFG3: Marfrig Global Foods SA Stock Price Quote - B3 Day - Bloomberg }}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}
| net_income = {{increase}} US$ 804.5 million (2024) {{cite web|url=http://www.pecuaria.com.br/info.php?ver=10032 |title=Lucro do Marfrig leva tombo de 72% em 2010 - PECUÁRIA.COM.BR |website=Pecuaria.com.br |access-date=2017-03-13}}
| subsid = {{ubl|National Beef Packing Company|BRF}}
| num_employees = 40,200{{cite web|url=https://www.forbes.com/companies/marfrig-group/ |title=Marfrig Group on the Forbes Global 2000 List |website=Forbes.com |access-date=2017-03-13}}
| homepage = {{URL|www.marfrig.com.br/en|www.marfrig.com}}
}}
Marfrig S.A. is the second largest Brazilian food processing company, after JBS. The company is headquartered in São Paulo. The company has 33 production units around the world and operational bases in 22 countries, exporting their products to over 100. Its activities include the production, processing, industrialization, sale and distribution of food based on animal protein, in addition to the sale of other food byproducts, such as frozen vegetables, sauces and desserts. The company is one of the largest beef producers in the world.
Group activities
Marfrig has about 40,000 employees and has the following structure of units: 33 units of cattle industry (24 in Brazil, five in Argentina, and four in Uruguay), 21 industrial units of chickens (14 in Brazil, four in Europe, and three in the United States), 48 plants for industrial goods and processed (16 in Brazil, five in Argentina, three in Uruguay, eight in the US, one in China, one in Thailand, one in Malaysia, one in South Korea, one in Australia, and 11 in Europe), four industrial pig units in Brazil, two industrial units of turkeys (one in Brazil and one in Europe), five plants of lamb (one in Brazil, three in Uruguay and one in Chile), 27 own factories of feed for chickens, turkeys, and pigs (21 in Brazil, three in Europe and three in the U.S.) and two trading companies (Chile and the United Kingdom), 14 industries and commercial offices for leather (one in Brazil, four in Uruguay, one in China, one in Germany, two in the U.S., one in Argentina, one in Mexico, and three in South Africa). The daily capacity is 31,200 head of cattle, 10,400 pigs, 10,400 sheep, 350,000 turkeys, and 3.7 million chickens.
In addition, the company has an installed capacity around 126,000 tons of processed products, and more than 178,500 pieces of leather processed per month. In June 2010, it announced the acquisition of Keystone Foods, a supplier of processed meats for the restaurant chain McDonald's and other companies.{{cite web|url=http://www.marfrig.com.br/a-marfrig/a-empresa/a-empresa.asp |title=Marfrig Group – Produtora e distribuidora de Carnes |access-date=2011-04-20 |url-status=dead |archive-url=https://web.archive.org/web/20100915040024/http://www.marfrig.com.br/a-marfrig/a-empresa/a-empresa.asp |archive-date=2010-09-15 }} In 2018, Marfrig sold Keystone to Tyson Foods.{{Cite web| last = globalmeatnews.com| title = Tyson completes Keystone Foods acquisition| work = globalmeatnews.com| date = 3 December 2018| access-date = 2019-04-25| url = https://www.globalmeatnews.com/Article/2018/12/03/Tyson-Foods-completes-Keystone-Foods-deal}}
Attention from institutional investors due to Amazon rainforest destruction
Marfrig Global Foods's beef exports has repeatedly implicated in illegal deforestation, as well as indigenous land rights violations and slave labour according to the environmental watchdog Forests and Finance.{{cite web|title=BNP Paribas Warned Over Role In Financing Deforestation And Rights Violations|url=https://forestsandfinance.org/news/bnp-paribas-warned-over-role-in-financing-deforestation-and-rights-violations/|website=forestsandfinance.com|date=17 October 2022 |access-date=26 October 2022}} It has previously been identified as having a problematic beef supply chain fuelling the deforestation of the Amazon forest.{{cite news|title=Leading burger supplier sourced from Amazon farmer using deforested land|url=https://www.theguardian.com/environment/2019/sep/17/leading-burger-supplier-sourced-from-amazon-farmer-guilty-of-deforestation|newspaper=The Guardian|date=17 September 2019 |access-date=26 October 2022|last1=Wasley |first1=Andrew |last2=Heal |first2=Alexandra |last3=Campos |first3=André }} The deforestation free supply chain watchdog Forest 500 further identified Marfrig's commitments as being insufficient, with a commitment strength of 9/20{{cite web|title=Marfrig Global Foods Forest 500 ranking|url=https://forest500.org/rankings/companies/marfrig-global-foods?year=2021|website=theguardian.com| date=3 December 2014 |access-date=26 October 2022}} In February 2022, IDB Invest, the private-sector arm of the Inter-American Development Bank shelved a US$200 million loan to Marfrig Global Foods over the group's deforestation impact.{{cite news|title=Big Beef Loan Scrapped Amid Uproar Over Amazon Deforestation|url=https://www.bloomberg.com/news/articles/2022-02-23/big-beef-loan-shelved-amid-uproar-over-amazon-deforestation|newspaper=Bloomberg|date=23 February 2022 |access-date=26 October 2022}}
On 21. December 2021 the Government Pension Fund of Norway placed Marfrig under observation "due to risk that the company contributes to serious environmental damage".{{cite web | url=https://www.nbim.no/en/the-fund/news-list/2021/decisions-on-observation-and-exclusion2/ | title=Decisions on observation and exclusion | date=21 December 2021 }}
Sponsorship activities
The company was a sponsor of the 2010 and 2014 FIFA World Cups,{{cite web|title=Marfrig CEO discusses FIFA World Cup sponsorship|url=https://www.fifa.com/worldcup/news/newsid=1218590/|archive-url=https://web.archive.org/web/20100530054011/http://www.fifa.com/worldcup/news/newsid=1218590/|url-status=dead|archive-date=May 30, 2010|website=fifa.com|access-date=14 June 2014}} the latter held in Marfrig's home country of Brazil.
See also
{{Portal|Companies}}
References
{{Reflist}}