JBS on Australia completes acquisition of Primo Smallgoods

JBS reported on Monday, 30, through a statement to shareholders that its subsidiary JBS Australia concluded the acquisition of all of the Primo Smallgoods. The transaction value totaled 1.45 billion Australian dollars, the equivalent of $ 1,125 billion.
With the completion of the acquisition, the new President and Chief Operating Officer of Prime Group will be James Cleary, who has presided over JBS birds and was President of JBS international Foods market.
The Executive holds a Bachelor's degree in finance and emigrated from Ireland to the Brazil in the years 1990 to act in a company in the segment of meat-based products. The President will report to Brent Eastwood, CEO of JBS Australia.
"The acquisition of Cousin demonstrates our commitment to Australia, which is an important part of our global operation and through which we are delighted to play a positive role in the local economy," said Wesley Batista, JBS's global President, in note.
According to JBS, the Primo Group will remain a unit focusing on value-added products and represents an opportunity for expansion in the Asian market.
Founded in 1985, the Primo Group is a leader in processed products such as ham, sausage and bacon, in Australia and in New Zealand.
The company owns brands such as Primo Smallgoods, Hans, Beehive, Hunter Valley Quality Meats and Primo Quality Meats, and has 3,700 employees, five production units, seven distribution centers and 37 retail stores.