Brazilian meat giant JBS is to buy US cattle busines McElhaney Feedyard for US$24m.
The deal, announced yesterday (30 June), will see JBS acquire a feedyard based in Welton, Arizona and with a one-time capacity to feed 130,000 head of cattle.
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Wesley Batista, CEO of JBS USA, said: “We are very pleased with the proposed acquisition of this state of the art installation through which we can liaise with local producers and ranchers to provide feed service for their cattle and customize the animal diet to suit the needs of our many customers not only in the US but around the world.”
He added: “As I have said previously, we are strong believers in the US livestock community and we will continue our efforts to bring efficiencies to the sector for the benefit of all.”
JBS has this week been linked to a potentially much bigger acquisition in the US after a report in Brazil suggested the company could hold talks to buy Smithfield Foods.
JBS, which has made a series of acquisitions in the US and Australia in recent months, has not commented on the speculation.
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