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Brazilian meat giant JBS has denied it is interested in buying New Zealand’s largest poultry processor Tegel Foods.

JBS, which owns businesses in Australia including the local Swift unit and beef firm Rockdale, had been linked to Tegel, which has been rumoured to be up for sale.

However, in a statement to the Brazilian stock exchange, JBS ruled out any interest in Tegel. “JBS is not in talks with the subject company and will not participate in any negotiation to acquire the mentioned asset,” the company said.

Pacific Equity Partners, which acquired Tegel from Heinz in 2005, has mandated banks to study the options for the business.

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By GlobalData