Brazil’s Marfrig Global Foods SA  said it has acquired a controlling stake in U.S. beef processor National Beef Packing Company LLC for $969 million.

The company has purchased 51 percent of National Beef shares, in a transaction valuing the target at $2.3 billion including debt.

Marfrig said with this transaction the company will operate in world’s two largest beef markets, get access to sophisticated consumer countries while keeping its sustainable growth strategy.

In 2010, Marfrig acquired Keystone Foods, a supplier of processed meats for the restaurant chain McDonald's and other companies.