September 3, 2009

Brazil's largest beef company, JBS S/A is looking for new acquisition targets, and Pilgrim's Pride Corp. in the US might be one of them, according to a story in local business daily Valor Economico on Wednesday (September 2).

JBS is no stranger to the US meat market. It acquired Smithfield Beef in 2008, but Pilgrim's Pride would be a new market for JBS because Pilgrim's main focus is poultry, a market JBS has not yet entered.

According to Valor, sources close to JBS said that they had spoken with Pilgrim's Pride for a possible acquisition. The Texas company filed for Chapter 11 bankruptcy protection in the US in December.

JBS was not available to comment on whether it had addressed a possible deal with Pilgrim's Pride. A press agent told Valor that the company had no plans to acquire US assets at this time, however.