JBS to take on $2.7 billion in debt in deal to become world’s largest poultry processor.
Brazil's JBS SA will acquire the poultry and pork unit of rival Marfrig Alimentos SA for 5.85 billion reais ($2.75 billion) in assumed debt, further extending its reach beyond its core beef business, reports Reuters. The transaction will give JBS, the world's largest meatpacker, Marfrig's Seara-branded Brazilian poultry, pork and processed foods business, along with a Uruguay-based leather operation.
JBS SA, already the world’s largest beef producer, would surpass Tyson Foods Inc. as the world’s largest poultry producer following the completion of the deal. The deal will also allow Marfrig to focus on its beef operation in Brazil, the filing said, while JBS will become the second-largest processed meat producer in the country.