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US/Brazil: Cargill selling pork division for $1.45 billion

 |  July 2, 2015

JBS, the world’s largest meat processor, agreed to buy Cargill’s US pork business for $1.45 billion as part of the Brazilian company’s global expansion.

“This transaction will strengthen our position as a producer and supplier of all major animal proteins around the world,” Martin Dooley, president and chief operating officer of JBS’s US pork unit, said in a statement Wednesday.

The deal, which is subject to regulatory approval, would increase Sao Paulo-based JBS’s share of US pork processing capacity to about 19 per cent, overtaking Tyson Foods as the second-largest operator, behind Smithfield Foods, according to National Pork Board data cited on Tyson’s website.

Full content: The Wall Street Journal

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