JBS concludes $1.45 billion Australian pork deal
JBS has concluded its acquisition of Primo Group, the largest producer of ham, bacon, pork and continental small goods in Australia.
The completion follows the finalisation of approvals from the Foreign Investment Review Board (March 5) and Australian Competition and Consumer Commission (February 6).
Primo remains standalone business
With the addition of Primo, JBS Australia operates a network of strategically located processing facilities and feedlots stretched throughout Australia's east coast. JBS will maintain Primo running as a standalone business, having James Cleary as COO, who will report to Brent Eastwood, Chief Executive Officer of JBS Australia.
"Our acquisition of Primo is a strong statement about our commitment to Australia, which is an important part of our global operations and we are delighted to play a positive role in the local economy. The completion of the Primo deal expands our leadership in the Food sector in Australia and marks a very significant milestone in JBS' growth strategy in the segments of value added products and strong brands, in addition to expanding our presence into high growth Asian export markets", commented Wesley Batista.
The business was acquired through JBS Smallgoods Australia, a subsidiary of the Brazilian meat giant JBS SA.
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