JBS, the acquisitive Brazilian meat giant, has struck a deal that will make it the largest lamb producer in Australia.
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The company said today (15 December) that it had agreed to pay Dutch meat business Vion Food Group US$30m for lamb processor Tatiara Meat Co.
The transaction, arranged through JBS’s local subsidiary Swift Australia, will see the Brazilian group acquire a business that exports to the US, Canada and Europe.
Tatiara has annual revenues of around A$200m and the deal, which remains subject to regulatory approval, will take Swift Australia’s total slaughtering capacity to 24,500 heads a day.
The deal is JBS’s latest move to diversify its business. In September, the company, which is the world’s largest beef processor, bought US poultry giant Pilgrim’s Pride.
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By GlobalData
