JBS buys Tyson Foods's poultry operation in Brazil and Mexico
JBS SA, with its subsidiary Pilgrim's Pride, has bought Tyson Foods's poultry operations in Mexico and Brazil. The operation in Mexico will be acquired by Pilgrim's, whose majority shareholder is JBS USA, a wholly owned subsidiary of JBS SA, while the operation in Brazil will be acquired by JBS Foods, a wholly owned subsidiary of JBS SA.
In a statement to the market, the company said it will pay US$ 575 million for the acquisition, of which US$ 400 million is for the operation in Mexico and US$ 175 million is for the operations in Brazil. Both transactions will be paid in cash and are subject to the approvals of the relevant regulatory authorities.
JBS and Tyson were last month in competition to buy Hillshire Brands. Tyson Foods won with a bid of US$ 63 per share, in a total of about US$ 8.5 billion.
Information provided by Valor Econômico