Wednesday, March 22, 2017

Brazil's JBS acquires Plumrose USA for $230 million

Brazilian meatpacker and food processor JBS SA (JBSS3.SA) on Monday said it reached an agreement to acquire U.S.-based ham and bacon producer Plumrose USA for $230 million, according to a securities filing.
The acquisition was made through a share purchase agreement between JBS and Danish Crown A/S, the former controlling shareholder of Plumrose.
The Brazilian company said the deal includes five prepared foods plants located in Indiana, Iowa (2), Mississippi and Vermont and two distribution centers in Indiana and Mississippi.
JBS, the world's largest meat processor, said the acquisition will "expand its portfolio of high value added prepared foods and strengthen its customer base and geographical distribution in the United States".
Reuters - 13/03/2017
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