Brazilian meat firm JBS has announced that it has entered into an agreement to buy Cargill Inc.’s pork businesses in the USA for $1.45 billion.
According to a company announcement, the deal includes two meat processing plants in Iowa and Illinois, as well as five feed mills in Missouri, Arkansas, Iowa and Texas and four hog farms in Arkansas, Oklahoma and Texas.
“Today’s announcement of our agreement to purchase the Cargill pork operations is a strategic investment in the long-term growth of our domestic and global pork business and demonstrates our continued commitment to the U.S. livestock sector,” said Martin Dooley, president and COO of JBS USA Pork. “This transaction will strengthen our position as a producer and supplier of all major animal proteins around the world, and provide increased opportunities for our producer partners and key customers. The strength and success of Cargill’s pork team and hog suppliers, as well as its industry leadership in areas such as animal welfare, exports, bacon production and innovation, were significant and compelling factors that led us to pursue this acquisition and enhance our ability to serve our diverse, global customer base”.