Friday, November 21, 2014

JBS still buying companies

JBS SA, already the world’s largest meat packer, bought two more companies this week.

It is paying $1.25 billion US to buy the Primo Group, the leading ham and bacon processor in Australia and New Zealand, and $167 million to buy Big Frango, the largest poultry processor in Southern Brazil.

The company was also fined $3.9 million US by Brazil’s Superior Labour Court for the way staff was treated at a Seara Alimentos facility.

The Superior Labour Court actually reduced the original fine of $9.7 million US imposed by a regional labour court.

The fine was mainly related to working conditions for staff in cold environments, such as meat-freezing rooms. They now get regular breaks.

The fines originated in 2007 when the company was owned by the Mafrig Group. It sold to JBS SA in October, 2012.