April 25, 2008

JBS receives approval to acquire Australia's Tasman Group
 

Brazilian meat company JBS S.A. announced it has received approval from the Australian Competition & Consumer Commission to purchase multi-species processor Tasman Group.

With this approval JBS aims to close the US$150 million deal on May 2 and immediately integrate Tasman as a subsidiary of Colorado-based JBS-Swift & Co, which already owns four beef processing plants and four cattle feedlot in Australia.

The acquisition will add six slaughter facilities and one cattle feedlot to JBS' holdings. More than 5,000 employees will man the newly structured Australian assets.

Slaughter capacity is 25,000 animals a day.