JBS says to purchase Cargill pork assets for $1.45 bln

2 Jul 2015 | Author: | No comments yet »

Cargill selling pork unit to JBS USA Pork.

Cargill has agreed to sell its U.S. pork business to JBS USA Pork for $1.45 billion, a deal that would meld two of the country’s largest pork processors.

Included in the sale are Cargill’s meat processing plants in Ottumwa, Iowa and Beardstown, Ill., which last year together processed 9.3 million hogs. The purchase by JBS also includes five feed mills (two in Missouri, and one each in Arkansas, Iowa and Texas), and four hog farms (two in Arkansas and one each in Oklahoma and Texas). “The strengths of the JBS and Cargill pork businesses are complementary. Together, they promise to offer enhanced service to customers and more opportunities for employees and hog producers while providing an important source of protein to consumers around the world,” said Todd Hall, Cargill senior vice president. “The professional and focused manner in which JBS approached Cargill demonstrated to us that they place a great deal of value on growing this part of their company to better compete in the marketplace and are willing to invest in its future. JBS is acquiring a business with excellent people and fixed assets, and an established track record of success.” JBS first entered the U.S. pork market with the acquisition of Swift & Company in 2007 and has steadily improved performance ever since. The company has more than 6,000 team members and the total daily capacity to process more than 50,000 hogs at processing facilities in Marshalltown, Iowa; Worthington, Minn.; and Louisville, Ky.

The announced transaction will enhance JBS USA Pork’s ability to meet increasing global demand for high-quality, innovative fresh and frozen pork products. JBS USA is a leading processor of beef, pork and lamb in the U.S., a leading processor of beef in Canada and a leading processor of beef and lamb in Australia. JBS USA processes, prepares, packages and delivers fresh, further-processed and value-added beef and pork products for sale to customers in more than 100 countries on five continents.

We have 152,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/jbs-usa-pork-agrees-to-purchase-cargill-pork-business-300107828.html

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