From WATTAgNet:

Brazil-based meat and poultry company JBS has agreed to buy European poultry company Moy Park from Brazilian competitor Marfrig for a price of about $1.5 billion.

The proposed transaction will involve a $1.19 billion investment from JBS for the acquisition, with another $318 million being invested to take on Moy Park’s current debt. The deal is subject to regulatory approval.

The news of the proposed acquisition comes one month after JBS CEO Wesley Batista said the company will “for sure” be looking at potential acquisitions in the chicken and pork sectors, as well as the packaged food sectors. That statement was a direct departure from comments Batista made during the JBS quarterly earnings call on March 11, when he said the company would not pursue acquisitions in 2015, but would instead seek organic growth.

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Moy Park, whose key product categories include chicken, turkey, broiler hatching eggs, feed sales and beef, processes 234 million birds annually, according to the WATTAgNet Top Poultry Companies Database. It has 4 processing plants and 6 further processing plants.

Moy Park has been in a state of expansion in recent months, as it announced plans to complete at least 250 new poultry houses in Northern Ireland. In addition to Northern Ireland, Moy Park also produces and processes poultry in Ireland, England, the Netherlands and France.

JBS to acquire processed food producer Moy Park for $1.5bn

Brazilian meat processing company JBS has agreed to acquire Marfrig Global Foods' British unit Moy Park for $1.5bn. Moy Park has 16 manufacturing sites across the UK and Europe where it manufactures locally farmed poultry and convenience food products. Upon completion of Moy Park's sale, Marfrig intends to expand Keystone's food service business in Asia and the US, while increasing beef exports from Brazil to those regions.
Read more at Food Business Review

Brazil's JBS meats to pay $1.5 bn for Marfrig's Moy Park

RIO DE JANEIRO - The world's largest meat packer, Brazil's JBS, has agreed to buy Moy Park, the UK unit of Marfrig Global Foods, for $1.5 billion, the companies said. "In addition, this acquisition increases the company's geographic diversification, with a relevant expansion of its operations in Europe." JBS will pay $1.19 billion in cash for the acquisition and will take on Moy Park's debt of 200 million pounds ($318 million).
Read more at Bangkok Post