June 21, 2021 |
JBS and BRF, two of the largest meatpackers in Brazil, both announced acquisitions to diversify their business lines and move into new markets, according to securities filings.
JBS said its US subsidiary Pilgrim's Pride agreed to buy the prepared foods and meals businesses of Kerry Group in the United Kingdom and Ireland in a deal worth £680 million ($939 million), or 8.5 times expected EBITDA in 2021.
Ireland's Kerry recently launched a brand of plant-based products, while Pilgrim's Pride alre
JBS agrees to spend $939 mln for Kerry's meats and meals businesses in the United Kingdon and Ireland, while BRF enters the local pet food market