Marfrig-BRF Merger Expected to Close with Minority Shareholder Support
August 7, 2025 | 1 min to read
Roughly 90% of BRF’s minority shareholders have voted, with the majority supporting a merger with its controlling shareholder, Marfrig. While their vote isn’t decisive due to Marfrig’s voting rights, it carries significant symbolic weight, especially after the Securities and Exchange Commission of Brazil suspended two previous meetings at minority investors' request. This merger will create a new entity, MBRF, with combined net revenues of R$152 billion over the past year.
Roughly 90% of BRF’s minority shareholders have already cast their votes ahead of the shareholder meeting scheduled for Tuesday (5), and the majority favor the company’s merger into Marfrig, its controlling shareholder.
Although the minority vote is not decisive—since Marfrig, led by businessman Marcos Molina, is entitled to vote—support from non-controlling investors carries symbolic weight, especially after the Securities and Exchange Commission of Brazil (CVM) suspended two prior shareholder meetings at the request of minority investors.
The combination of the two Brazilian meat processing companies will form a new entity, MBRF. Together, Marfrig and BRF reported R$152 billion in net revenue over the past 12 months.
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