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Friday, July 18, 2014
JBS Foods signs deal to acquire assets from Céu Azul
JBS Foods, a subsidiary of Brazilian meat and poultry processor JBS SA, has signed a binding agreement with Céu Azul Alimentos Ltda., and its related companies and individuals, to acquire two poultry processing plants, including two feed mills and three incubators. The proposed acquisition is valued at BRL246 million (US$110.7 million).
The assets proposed to be acquired by JBS are located in Guapiaçu and Itapetininga, both in the state of São Paulo. The facilities have a combined poultry processing capacity of 330,000 birds per day, and licenses to access the poultry industry’s global importing markets.
This acquisition represents an important step under JBS Foods' strategy to increase its presence in the principal international markets, in addition to strengthening its position in Brazil's largest consumer center.
Céu Azul Group, the seventh largest poultry company in Brazil, was founded in 1974 in the city of Pereiras, São Paulo, as a poultry producer operating under a fully integrated production model. Its well-known brands include Frango Santa Rita, Frango Bino and Grand Frango.
The agreement is subject to the approval of the competent authorities, including CADE, the Brazilian antitrust agency. In a press release, JBS stated it will keep the market informed on the developments of the transaction.
JBS Foods is the processed foods and poultry division of JBS SA. The division was created in late 2013.