JBS, the Brazil-based meat giant, has moved to expand its business in the US through the acquisition of bacon and deli meats business Plumrose USA from Danish Crown, the Denmark-based meat cooperative.
The deal, struck for US$230m, is “a continuation of JBS’ strategy of expanding its portfolio of branded, high value added prepared foods, and strengthens its customer base and geographical distribution in the United States”, JBS said.
JBS’s assets in the US include Pilgrim’s Pride, the country’s second-largest poultry processor, in which it owns a majority stake.
Plumrose has five prepared foods facilities and two distribution centres in the US. Its annual net revenue is estimated at $500m, JBS said. The purchase is subject to competition approval in the US.
The acquisition was announced alongside JBS’s annual results, which included a fall in annual profits amid a jump in finance expenses. Net revenue rose 4.6% amid improved sales from the company’s poultry division and its combined processed and prepared products arm.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData