SÃO PAULO — European Commission regulators have approved Perdigao’s acquisition of competitor Sadia, according to a Reuters report. Perdigao is still awaiting approval from Brazilian competition authorities.
Perdigao agreed to acquire Sadia May 19. If approved, the acquisition will combine Brazil's top poultry and pork processors to create a global industry leader with annual sales of more than $10 billion. Named Brasil Foods, the newly combined company would control almost 25% of the international poultry market.