January 18, 2007

Brazil beef exporter acquires US company
 

Brazilian beef processor JBS-Friboi group has acquired one of the largest distributors in the US, making an entry in the US market.

Also included in the deal were the company's subsidiaries and the brands traded on the US market. The US company was already distributing Friboi's processed beef in Brazil.

Though Brazil is not permitted to export fresh beef to the US due to concerns about BSE, Friboi looks keen on promoting its product in the US high value-added processed goods market, giving it an advantage over other Brazilian companies exporting to the US.

Friboi's turnover is expected to exceed US$2 billion in 2006; it has a slaughter capacity of 20,000 head per day in Brazil and Argentina.