JBS Australia: Agricultural giant expands into aquaculture
Global agricultural company JBS has announced yet another acquisition in Australia, with plans to buy one of the nation’s largest aquaculture businesses.
Multi-national beef giant JBS has conquered the turf — and now has its eyes set on the surf.
The Brazilian-based meat processing company last week announced plans to acquire one of Australia’s largest salmon producers, Huon Aquaculture, for $549.87m.
The deal has already been approved by controlling shareholders, and is expected to be finalised by the end of the year, pending approval of Australian authorities and other shareholders.
JBS global chief executive Gilberto Tomazoni in a statement called the move a “strategic acquisition”.
“We will repeat what we did previously with poultry, pork and value-added products – to make our portfolio even more complete. Aquaculture will be a new growth platform for our businesses,” Mr Tomazoni said.
Huon has 13 production sites and three value-added product processing units.
JBS already operates in Tasmania, with a beef cattle processing unit at Longford.
This is the company’s second acquisition in Australia this year.
JBS announced in June plans to acquire 100 per cent of Rivalea Holdings Pty Ltd, along with 100 per cent of Oxdale Dairy Enterprise Pty Ltd.
The purchase, which is subject to approval from the Australian Competition and Consumer Commission, would increase JBS Australia’s market share of the pork industry.
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