JBS of Brazil Buying Cargill US Pork Unit for $1.45B

July 2, 2015 01:04 PM
JBS of Brazil Buying Cargill US Pork Unit for $1.45B

Brazilian meat producer JBS will buy the U.S. pork division of agribusiness giant Cargill for $1.45 billion, the companies said Wednesday.

JBS USA Pork said the deal will bolster its long-term growth in the U.S., and said it will gain two meat processing plants, five feed mills and four hog farms from Cargill. The sale is subject to approval by regulators.

JBS SA reported about $21.65 billion in revenue in 2014. JBS USA Holdings owns Pilgrim's Pride, among other brands, and it entered the U.S. pork market when it bought Swift Co. in 2007.

A year ago JBS agreed to buy the Mexican and Brazilian poultry businesses of Tyson Foods for $575 million.

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