Tuesday, May 26, 2015

JBS looking to buy more in Americas and Australia

JBS SA, already the world’s largest meat packer, is looking to buy more companies, according to a Reuters News Agency interview with  chief executive officer Wesley Batista.

He told Reuters that JBS will "for sure" be looking at potential acquisitions in the chicken, pork and branded packaged food sectors during 2015.

"I cannot say that, second half of this year, we are not going to be preparing ourselves, to (maybe) look for something for late this year or next year," he said.

JBS recently completed the acquisition of Primo Group, the largest producer of ham, bacon and sausage in Australia, in a move to capitalize on booming sales growth in Asia.

W.H. Group of China, which owns Smithfield, has also said it’s looking for companies to buy. Smithfield once owned Schneider Corp., but sold it to Maple Leaf Foods.

Some market analysts have said that Michael McCain changes to Maple Leaf to focus it on meat processing in state-of-the-industry plants makes it a takeover target.