May 6, 2008

JBS completes acquisition of Tasman Group

Sao Paulo-based JBS S.A. announced it has completed the acquisition of Tasman Group, Australia's largest multi-protein processor.

The US$150 million deal makes JBS the employer of 15,000 employees and owner of 15 production units in Australia.

The Brazilian company will fully incorporate Tasman¡¯s operations and begin to implement synergies and reduce costs.

This investment strengthens JBS' leadership of the Australian market, a traditional beef producer and the world¡¯s second largest exporter in 2007 behind Brazil, the company said in a statement.