BRAZIL - JBS has acquired the Big Frango Group, one of the biggest groups in the poultry segment in southern Brazil.
JBS S.A. has announced that, on 20 November, its wholly-owned subsidiary JBS Foods S.A., through JBS Aves Ltda., entered into an agreement for the acquisition of the quotas representing the total capital stock of AMSE02 Participações Ltda. (AMSE02).
The Transaction has the final purpose of acquiring the totality of equity interest of AMSE02 in the companies the Big Frango Group, which includes Big Frango Indústria e Comércio de Alimentos Ltda., Nutribig Administração e Participações Sociais S.A. e Agrícola Jandelle S.A.
The total price to be paid in the transaction will be approximately BRR430 million once the deal is approved.
The capital interest in the Big Frango Group had been acquired by AMSE02 as a result of a debt restructuring process and corporate restructuring promoted by the former Big Frango's quota holders and shareholders, coordinated by Werte Capital Reestruturação e Intermediação Financeira Ltda.
The Big Frango Group is one of the biggest groups in the poultry segment in southern Brazil, with more than 49 years of existence, which slaughters 460,000 birds per day in two plants approved to export to the principal international markets, and annual revenue of more than BRR1 billion.
JBS says that its acquisition represents an important step towards the strengthening of JBS Foods in the Brazilian consumer market of poultry and related products.
TheMeatSite News Desk