JBS to acquire Primo for $1.45 billion

 In Australia, NewZealand
Australia’s largest fresh meats processor, JBS Australia has signed a $1.45 billion deal to acquire Primo Group, the largest ham, bacon and smallgoods producer in Australia and New Zealand.
Primo owns brands including Primo Smallgoods, Hans and Beehive.
Its operations include five processing plants operating across Australia as well as New Zealand, employing over 3,000 people.
The transaction is set to leverage the Primo Group’s growing export operations across Asia, including China, and is consistent with the global strategy of JBS to grow its presence in value-added products.
Primo Group chief executive Paul Hitchcock said he welcomed the sale to JBS.  Sydney Morning Herald – Read more…

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