Acquisitions will boost JBS's global status
Apr 1, 2008 12:00 PM
JBS announces the acquisition of National Beef Packing Company LLC, Smithfield Beef Group Inc., and Tasman Group Ltd. Upon the closing of these acquisitions, Brazil-based JBS will have 63,000 employees worldwide and annual sales of about US $21.5 billion.
An agreement was signed February 29 for JBS to purchase National Beef. Another agreement was signed March 4 to acquire Smithfield Beef as well as Tasman. The first two companies are in the United States, and the third is in Australia.
National Beef will be acquired for about US $970 million. The value of the Smithfield Beef acquisition is US $565 million, which includes 100 percent of the shares of its subsidiary Five Rivers. Tasman will be acquired for approximately US $150 million. Transactions are expected to close as soon as possible, subject to regulatory review and closing conditions.
National Beef has three beef processing plants, one in Dodge City KS, one in Liberal KS, and the other in Brawley CA; two case-ready beef processing plants; and a Liberal-based refrigerated transportation firm with about 1,200 vehicles.
Smithfield Beef has four beef processing plants, in Green Bay WI, Plainwell MI, Souderton PA, and Tolleson AZ; one transportation division with about 120 refrigerated transportation vehicles; one grease producing plant in Elroy PA; and one cattle feedlot unit in South Charleston OH.
