BRAZIL - Brazilian meat and food giant JBS has bought pasta and ready meal company Massa Leve.
The company, Comércio e Indústria de Massas Alimentícias Massa Leve Ltda, which is the third largest producer of ready meals in Brazil was bought by the JBS subsidiary JBS Foods SA for R $ 258,617,503.16.
The deal has been approved by the Brazilian competition authority CADE.
JBS said that the acquisition represents a significant opportunity to capture synergies operating as wholly owned subsidiary of JBS SA Foods.
Massa Leve was founded in 1992 and is headquartered in the city of Rio Grande da Serra, State of Sao Paulo.
TheMeatSite News Desk