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JBS announces purchase chicken business in SC for R$ 128 million

JBS announced on Monday, November 5, that it has signed a commitment to acquire Agrovêneto, a Santa Catarina-based company specializing in chicken, for R$ 128 million. R$ 10 million will be paid in JBS shares and the rest will be in debt taken on by JBS. The completion of the deal depends on regulatory approval, the JBS' board, and an audit of the debt, the said the company in a statement.

Agrovêneto, in the municipality of Nova Veneza, Santa Catarina, has a capacity to process 140,000 birds a day, sold in Brazil and abroad. "The acquisition of Agrovêneto complements JBS's business in the poultry segment in Brazil," said JBS in a statement. JBS is the world's largest animal protein processor. The new unit will be merged into JBS Aves, which now has four units in this sector in Brazil, with a processing capacity of 1.34 million birds per day.

Information provided by Reuters




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