JBS buys Uruguayan tannery as part of poultry deal - leatherbiz: Leadi Leatherbiz

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JBS buys Uruguayan tannery as part of poultry deal

11/06/2013
Brazil’s JBS, the world’s largest beef producer, has agreed to buy assets from Marfrig Alimentos, which will see it take over the Zenda tannery unit in Uruguay and which will make it the world’s largest chicken meat producer.

It will take on $2.74 billion dollars in debt for the Seara poultry and pork unit in Brazil and the Uruguayan tannery. The deal means JBS will also take over Marfrig’s soccer World Cup sponsorship contract as well as 21 distribution centres.

Beef accounted for 64% of JBS’s revenue in the year to the end of December 31 and chicken meat accounted for 22%. The deal means it surpasses the US’s Tyson Foods as the world’s top poultry producer.

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