Dive Brief:
- JBS SA has completed its $1.45 billion acquisition of Cargill Inc's U.S. pork assets on the earlier end of how long the company expected.
- The deal cleared without any regulatory restrictions.
- JBS is one of the largest meat companies in the U.S. and now the country's second-largest pork packer.
Dive Insight:
JBS has acquired Cargill's two pork processing plants in Iowa and Illinois in addition to five feed mills in Missouri, Arkansas, Iowa, and Texas and four hog farms in Arkansas, Oklahoma, and Texas.
"Today's announcement (Oct. 30) signifies a strengthening of our pork business through the combination of our established track record of adding value for our customer base and Cargill's complementary specialty-product offerings, including bacon, antibiotic-free and sow housing production system options," said Marty Dooley, president and COO of JBS USA Pork.
Global CEO of JBS, Wesley Batista, said the acquisition is in line with the company's growth plan of prepared and value-added products, customer expansion, and improving its premium pork product mix.