Brazils BRF expects to earn $600 in 2016 after acquiring Assets in Asia, Europe and South America

Giant Brazil food processor BRF SA expects its recent $496 million acquisition in Argentina, Thailand, and Britain to increase its revenue to more than $600 million in 2016.

In a report by Reuters BRF Chief Executive Pedro Faria said Wednesday that the company has agreed to buy Thailand's Golden Foods Siam for an amount of $360 million. BRF, which is also the biggest poultry exporter in the world, is planning to make more acquisitions abroad. Golden Foods is one of the largest poultry producers in Thailand with business operations in 15 different countries.

According to Fox News, the company acquired a full stake in Eclipse Holding Cooperatief, a Dutch company managing Campo Austral, an Argentinian group that runs pork and cold-cuts operations. The acquisition is worth $85 million. Finally, the company also bought for $51 million Britain food distributor Universal Meats.

According to Faria the acquisition in Argentina makes BRF the second-biggest pork producer in the country. Business in the Argentina has a bright future with the new president Mauricio Macri, who is pro-business.

Faria said the deal would also increase the company's production capacity by 230,000 metric tons. The acquisition will increase the company's overseas output by a hundred percent, which will account for 8 percent of its total production. BRF's total sales reached $9.9 billion in the last 12 months.

Bloomberg News reported that one of the major reasons for the company's acquisition of overseas companies is the contraction in Brazil, which increases unemployment rates and decreases retail sales. BRF earned more than half of its profit from Brazil last year.

The company's income in Brazil before interest and taxes dropped 45 percent during the third quarter compared to the same period a year earlier. This triggered a loss in confidence among its investors, sending shares to plunge into low levels.

BRF was made in 2009 out of the merger of two of Brazil's biggest poultry and pork producers, Sadia and Perdigao.