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Brazil's BRF and Invicta enter distribution JV for UK, Scandinavia

Reuters - UK Focus

SAO PAULO, April 22 (Reuters) - Brazil's BRF SA, the world's largest poultry exporter, has agreed to a joint venture with British-based Invicta Food Group Ltd to distribute processed foods in Britain, Ireland (Other OTC: IRLD - news) and Scandinavia, according to a securities filing on Wednesday.

Subsidiary BRF GmbH will offer its service network in the region as well as paying 18 million pounds ($27 million) for a 62 percent stake in the joint venture. Invicta will offer its own operations, with a strong presence in UK food services, in return for the remaining 38 percent stake.

($1 = 0.66 pounds) (Reporting by Gustavo Bonato Editing by W Simon)