Brazilian federal police searched the offices of Eldorado Brasil, a cellulose and eucalyptus producer owned by J&F Investimentos, the group controlling the world's largest beef processor JBS SA.
JBS said in a statement released to media that it is not the target of the investigation into money laundering and corruption.
However, Joesley Batista, is chairman of JBS and president of J&F. Police also searched his house.
Eldorado Brasil's offices in Sao Paulo are in the same building where JBS headquarters, but JBS said “the company, and its executives, are not the target and are not related to the federal police operation that took place this morning,” meaning June 29.
JBS owns XL Foods of Alberta, one of Canada’s biggest beef-packing companies.
