MARFRIG GLOBAL FOODS S.A. Business Summary

Marfrig Global Foods S.A. (MBRFY) operates as a vertically integrated global food platform, generating the majority of its revenue through the large-scale slaughter, processing, and distribution of animal-based and plant-based proteins. Following its 2025 merger with BRF S.A., the company has transitioned into a diversified multiprotein powerhouse with four primary reporting segments: Beef North America (anchored by National Beef), Beef South America, Poultry, and Pork and Processed Products (BRF). Revenue is primarily transaction-based, derived from the sale of fresh, chilled, and frozen meats, alongside high-margin value-added products such as hamburgers, sausages, and ready-to-eat meals to retail, food service, and industrial clients across 100+ countries. Marfrig maintains a dominant market position as the world’s largest hamburger producer and the second-largest Brazilian food processor, competing directly with global giants JBS S.A., Tyson Foods, and Minerva Foods by leveraging a geographically hedged supply chain that balances North American production with South American export capacity. The company was founded by Marcos Antonio Molina dos Santos, who currently serves as Chairman of the Board and maintains controlling interest through MMS Participações S.A. alongside co-founder Marcia Aparecida Pascoal Marçal dos Santos. The executive leadership team is led by Global President and CEO Miguel de Souza Gularte, a veteran with over 40 years of industry experience who previously headed the company’s South American operations and was re-appointed to lead the combined Marfrig-BRF entity in late 2025. Supporting him is José Ignacio Scoseria Rey, who serves as the Chief Financial, Investor Relations, Management, and Technology Officer (CFO/CTO), bringing a deep background in finance and administration from his tenure at Zenda and BRF. The company’s governance is supported by a robust institutional investor base, including major shareholders such as Vanguard, BlackRock, and JPMorgan Chase, reflecting its status as a critical player in the global agricultural commodity and food tech sectors.