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Brazil: JBS inks major Australian meat producer deal

 |  November 23, 2014

The world’s largest meatpacker just secured more than $1 billion in new assets.

According to reports, Brazil’s JBS Foods, which owns Pilgrim’s Pride, has agreed to acquire Australian meat producer Primo Smallgoods for about $1.25 billion. Smallgoods is Australia’s and New Zealand’s largest ham, bacon and sausage producer, according to reports.

JBS announced the deal as a way for the company to expand its reach throughout Asia. In a conference call Friday, JBS chief executive Wesley Batista said Australia’s proximity to Asia and its free trade agreement signed early last week give JBS a “tremendous opportunity” in acquiring Primo.

Australian authorities must first sign off on the deal before it is finalized.

Full content: NYTimes

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