Brazilian meat giant JBS today (21 September) revealed what it had paid for Australia’s Rockdale Beef after receiving competition approval to buy the business.
JBS, which signed a deal to buy Rockdale in March, said it had paid A$40m (US$37.9m) for the business, although the price tag is “subject to further adjustments based on the level of the working capital at completion”.
Rockdale’s assets include a meatworks capacity of around 200,000 cattle a year and a feedlot capacity of over 53,000 cattle, JBS said.
“As we look to gain efficiencies and serve our customers better, the addition of the Rockdale plant is a stride forward,” said Wesley Batista, CEO of JBS USA, which runs the group’s business in Australia. “We will be able to customise evermore our raw material supply and reach the highest quality standards required by our many customers, particularly those in Asia.”