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Brazil: Beef giant makes major move into poultry, pork business

By  |  June 10, 2013

With a $2.75 billion offer, beef packing company JBS, based in Brazil, is looking to enter the poultry and pork markets with an acquisition of competitor Marfrig Alimentos. Reports say the deal is unlikely to raise concerns from antitrust regulators. JBS currently sits as the globe’s largest meatpacker; the deal, if finalized, will strengthen its stance with a takeover of Marfrig’s poultry, pork and processed foods companies, which are under the Seara brand, as well as its leather business based in Uruguay. Marfrig currently possesses $6.1 billion in debt, a burden that will be lightened with the buyout.

Full Content: Reuters

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