More acquisitions for JBS
Brazil-based meatpacker and tannery group JBS has bought two new companies to add to its fast-growing portfolio.
It has secured a deal for Australia's Primo Smallgoods Group, a ham, sausages and bacon producer, for $1.25 billion. The group has over 4,000 employees and five production units.
"In line with our global strategy to increase exposure for high value added products and brands, the Primo acquisition, which involves the largest company in the sector with a number of leading brands, represents a major growth opportunity for our Australian business given the significant annual growth recorded by food products and the ability to drive Primo Group sales through the export market," said JBS CEO Wesley Batista.
The group has also acquired Big Frango, one of the largest poultry producers in Brazil, for $170 million.
