AUSTRALIA - JBS Australia has completed its takeover of Primo Smallgoods Group for A$1,450 million, equivalent to US$1,125 million.
Primo becomes part of JBS Australia’s network of processing plants and feedlots stretched throughout Australia's east coast.
JBS is to keep Primo as a standalone business, with James Cleary as COO, who will report to Brent Eastwood, Chief Executive Officer of JBS Australia.
Mr Cleary was CEO of JBS Aves and also was President of the International Markets of JBS Foods in Brazil.
Established in 1985, Primo Group is the leading producer of ham, bacon and smallgoods in Australia and New Zealand.
It has a portfolio of well recognized and highly regarded brands including Primo Smallgoods, Hans, Beehive, Hunter Valley Quality Meats and Primo Quality Meats.
The business currently employs in excess of 3,700 employees and operates from five manufacturing plants, seven distribution centres and 37 retail shops.
"Our acquisition of Primo is a strong statement about our commitment to Australia, which is an important part of our global operations and we are delighted to play a positive role in the local economy,” said JBS vice president Wesley Batista.
“The completion of the Primo deal expands our leadership in the Food sector in Australia and marks a very significant milestone in JBS' growth strategy in the segments of value added products and strong brands, in addition to expanding our presence into high growth Asian export markets.”
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