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Jbs: both meat and fish

Launches take over on Australian salmon producer

From beef, pork and poultry - of which the Brazilian group Jbs is a world leader - to fish, specifically salmon. The Sao Paulo giant has in fact launched an amicable takeover bid by the Australian salmon producer Huon Aquaculture Group for AUD 425 million (approximately $ 312.5 million). The deal will see the Brazilian meat giant acquire 100% of Huon for a cash consideration of AUD 3.85 per share. Based in Tasmania, Huon raises salmon and ocean trout and its products are sold in shops and supermarkets across Australia, as well as the company's online store.

“This is a strategic acquisition, which marks JBS's entry into the aquaculture sector. We will repeat what we did previously with poultry, pork and value-added products, to make our portfolio even more complete”, said Gilberto Tomazoni, Global CEO of JBS. “Huon has 33 years of experience in sustainable manufacturing, with superior technology, superior quality products widely recognized by the Australian consumer, in an industry with excellent growth prospects around the world. Aquaculture will be a new growth platform for our businesses”.

Huon's board said it considered the deal "in the best interests of the shareholders" and recommended that they vote in favor.

Jbs in 2020 had a turnover of approximately 53 billion dollars. In Italy, it controls the Rigamonti salami factory, a national leader in the production of bresaole.

hef - 20458

EFA News - European Food Agency
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