Subscribe Register Login

Tuesday, September 02, 2014, 2:01 p.m.
Top Picks - Arkansas Daily Deal

JBS surpasses Tyson in chicken with Marfrig deal

By Bloomberg News

This article was published June 10, 2013 at 7:13 a.m.

JBS SA, the world's largest beef producer, agreed to buy Marfrig Alimentos SA meat-processing plants in Brazil in a noncash deal to become the world's largest chicken producer.

JBS will take on $2.74 billion in debt for the Seara poultry and pork unit in Brazil and the Zenda tannery unit in Uruguay, the Sao Paulo-based company said in a regulatory filing Monday. JBS and Marfrig officials had planned a morning news conference in Sao Paulo, according to a statement from both companies Sunday.

For Marfrig, the most indebted meatpacker in the Western Hemisphere, the deal means a cut in net debt that jumped sevenfold in the past five years to about $4.67 billion as of March 31. The acquisition of Seara's local assets would turn JBS into the world's largest poultry producer, surpassing Springdale-based Tyson Foods Inc.

The JBS-Marfrig agreement was reported Saturday by O Estado de S.Paulo newspaper columnist Sonia Racy.

Comments on: JBS surpasses Tyson in chicken with Marfrig deal

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Inside sales/warehouse

    ** ** Professional Flooring Supply N. Little Rock (Near Maum...
    LITTLE ROCK, Arkansas

  • Vascular sonographer

    The performs required vascular ultrasound & clinical evalua...
    LITTLE ROCK, AR

  • Program mgr

    Ozark Natural Science Center Immediate Opening for: Program ...
    HUNTSVILLE, AR

  • Locksmith needed

    Locksmith NeededExperience preferred but will train. Good pa...
    NORTH LITTLE ROCK, AR

  • Clinical liaison,lpn

    clinical liaison, lpn, ltc facility needs with good assessme...
    LITTLE ROCK, AR

Search 912 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online