SÃO PAULO, Brazil – JBS S.A., the world’s largest beef processor, announced Nov. 5 that it acquired Agroveneto S.A., a Brazilian chicken processor, for R128 million ($63.02 million). JBS will take on Agroveneto’s debt and give R10 million in JBS shares to the owners.
Agroveneto, which is based in Nova Veneza in the southern Brazilian state Santa Catarina, has a processing capacity of 140,000 chickens per day. The company produces more than 30 different chicken products, including frozen cuts, spiced and breaded chicken products and a line of individually quick-frozen products. Export markets include Asia, Europe and the Middle East.
“The acquisition of Agroveneto complements JBS operations in this segment in Brazil,” the company said in a news release on its web site. “This new production unit will be incorporated into JBS Aves, which now encompasses four production facilities in this sector in Brazil with a daily capacity to process 1.34 million birds.”