JBS is paying $150 million US for 80 per cent of a meat-packing business in Oman in the Middle East.
The deal opens the door for JBS to process local chickens and source lamb and beef from countries in Africa and the Middle East.
JBS is already the world’s largest meat packer and in Canada owns the former XL Packers beef-packing plant in Alberta.
JBS chief executive officer Gilberto Tomazoni said the purchase enables the company to use the facilities in Oman as a hub for accessing other markets.
“We will continue investing because we have built a platform here.”
JBS is also expanding its poultry production in Saudi Arabia, which borders Oman.
JBS has been busy recently selling its half ownership of Jack Link’s in Brazil, a $70 million US investment in poultry iin Paraguay and controlling shareholder Wesley Batista said the European meat-packing industry is ripe for takeovers because it is fragmented.
