October 12, 2007

Brazilian beef giant hopes to double global market share in five years

Brazil's largest meat packing group JBS-Friboi (Friboi) hopes to double its share of the global market in the next five years in line with the increased meat demand, the company said on Wednesday (October 10, 2007).

JBS already accounts for an estimated 8 percent of the global market just taking into account its Brazilian and Argentinean operations.

The company also has plants in the US and Australia, which according to some estimates account for half the company's animal slaughters. The company operates a total of 41 plants in these four countries.

JBS became the world's largest beef processor after it acquired US meat company Swift & Co for US$1.4 billion this year. With the acquisition, JBS's annual sales are expected to add up to US$12 billion.