JBS acquires Plumrose USA
March 13, 2017
by Joel Crews
Search for similar articles by keyword: [JBS SA
Plumrose products include bacon, deli meats, hams and cooked ribs.
GREELEY, Colo. – Officials with JBS USA announced on March 13 an agreement to acquire Plumrose USA, a subsidiary of Danish Crown A/S in a deal valued at $230 million. The acquisition expands the JBS portfolio to include the prepared foods and value-added categories, with products that include bacon, deli meats, hams and cooked ribs. Plumrose annual revenues are estimated at $500 million. JBS will take over operations at two processing plants in Iowa as well as three others in Mississippi, Vermont and Indiana. The deal also includes two distribution centers in Indiana and Mississippi.
“Today’s announcement is further demonstration of our commitment to disciplined growth through strategic acquisitions that further diversify our product portfolio, expand our branded offerings and strengthen our direct relationship with consumers,” said Andre Nogueira, CEO, JBS USA Food Company.
“We are excited to welcome the more than 1,200 dedicated team members of Plumrose USA to JBS and look forward to building on the legacy of high-quality products and outstanding service established by Danish Crown.”
With annual revenues estimated at $500 million, JBS said in a statement that the acquisition “is a continuation of JBS' strategy of expanding its portfolio of branded, high value added prepared foods, and strengthens its customer base and geographical distribution in the United States.”
Both companies’ boards of directors endorsed the agreement and the deal will be official subject to regulatory review and US antitrust approval.