Brazil’s JBS plans to quit a meat snacks joint venture formed in 2010 with US jerky maker Jack Link’s.
JBS has filed a petition with Brazil’s competition authority – the Administrative Council for Economic Defense (CADE) – requesting clearance of the transaction because the Meat Snack Partners joint venture is based locally.
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In the CADE documents shared by JBS with Just Food, Jack Link’s is represented in the partnership by Minneapolis, Minnesota-based LSI Inc., which is buying out the Brazilian company’s share.
Along with LSI, Troy Link, the son of Jack Link’s founder Jack Link and the company’s current CEO, are mentioned as the buyer of the JBS stake.
Privately-owned Jack Link’s had not responded to Just Food’s request for comment on its buyout at the time of writing.
When the venture was announced in 2010, Jack Link’s meat snacks were to be produced at two of JBS’s production plants in Brazil’s Sao Paulo state for the US and other international markets.
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By GlobalDataThe Brazilian meat giant was to supply the raw ingredients and the production side of the venture at the twin sites was to be operated jointly between JBS and Jack Link’s.
Jack Link’s struck a deal in Australia last year to acquire Kooee! All Natural Snacks via its Asia-Pacific business unit.
Kooee! was co-launched in 2015 by Shaun Malligan and produces “natural” beef and chicken jerky snacks. It is based in Launceston, Tasmania.
Wisconsin-based Jack Link’s also expanded its portfolio in 2020 with the acquisition of Golden Island Jerky from US peer Tyson Foods.
The company’s product range now consists of its own brand of beef, turkey and chicken jerky, along with Golden Island, Kooee!, Lorissa’s Kitchen, Wild River and Country Fresh Meats.
