September 21, 2010

JBS completes takeover of Australia's Rockdale Beef

Brazilian meatpacker JBS SA, the world's largest beef producer, said Monday (Sep 20) it has completed the acquisition of Australia's Rockdale Beef, after securing all regulatory approvals.

Under the transaction, announced in March, JBS paid AUD40.5 million (US$37.5 million) for Rockdale Beef, with the figure subject to adjustments according to the company's working capital levels.

Rockdale Beef, located in New South Wales, has a slaughtering capacity of 200,000 cattle a year and confining capacity of 50,000 cattle.

Earlier this year, JBS also acquired Australia's lamb processor Tatiara Meat Company, or TMC.