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JBS to acquire Primo Smallgoods for $1.45 billion

Australia’s largest fresh meats processor JBS Australia has signed a $1.45 billion conditional agreement to acquire Primo Smallgoods.

As Australia’s largest ham, bacon and smallgoods producer in Australia and New Zealand, Primo’s operations include five key processing plants between the two countries, employing over 3,000 people.

The move is set to leverage Primo’s growing export operations across Asia, including China, and is consistent with the global strategy of JBS – which is the largest animal protein processing company in the world – to grow its presence in value-added products.

“While it will remain very much business as usual for our employees, suppliers and customers, this transaction offers tremendous opportunities for a producer of high quality products like Primo,” said Paul Hitchcock, Primo Group CEO. “We look forward to being part of JBS and capitalising on its international distribution network.”

“Primo Group is the leading company in this segment with strong brands and represents an outstanding opportunity to grow our business in Australia and internationally,” JBS CEO, Wesley Batista said.

“We are seeing strong annual growth in consumption of processed meat products with good prospects to increase exports of high quality convenience products from the Primo Group’s portfolio.”

The transaction is subject to relevant regulatory approvals.

In addition to Primo, JBS Australian announced in July that it had purchased a majority shareholding in the family owned, Sydney based company, Andrews Meats.

 

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