JBS has entered into an equity purchase agreement to acquire Empire Packing Company’s case-ready meat production facilities and its Ledbetter branded products.
The proposed transaction, which is subject to regulatory review and governmental approvals, is valued at US$238 million. The acquisition, according to a notice to the market from JBS, is to be made through JBS’ U.S. subsidiary, JBS USA.
“Today’s announcement highlights our ongoing commitment to diversifying our product offerings. Empire is a long-standing, respected family-owned company with strong leadership and quality assets in strategic locations across the U.S. that fit well in our business model,” stated Adre Nogueira, CEO of JBS USA.
The proposed Empire Packing Company acquisition includes the operations of five production facilities, as well as the Ledbetter branded retail products. The facilities to be purchased are located in Cincinnati, Ohio; Denver, Colorado; Mason, Ohio; Memphis, Tennessee; and Olympia, Washington.
According to the Ledbetter website, the company was founded in 1959. Its product line includes case-ready beef, pork, turkey and chicken products.
JBS, in its notice, did not indicate any anticipated date regarding when the acquisition would close. The notice is signed by JBS Investor Relations Officer Guilherme Perboyre Cavalcanti.
According to the WATTAgNet Top Poultry Companies Database, JBS is the world’s largest poultry company, slaughtering 2.5 billion broilers annually. The company also is a major producer of turkey, beef and pork products, and has entered the plant-based protein sector.
JBS has actively been involved in mergers and acquisitions during recent months. Within the past year, JBS has announced its intent to acquire Bunge Alimentos’ margarine business; Frigorifico Marba; the J&B Group’s value-added meat processing facility in Pipestone, Minnesota; a pork processing plant in Seberi, Brazil; and through its Pilgrim’s Pride unit, Tulip Limited.
JBS is headquartered in Sao Paolo, Brazil, while the JBS USA subsidiary is headquartered in Greeley, Colorado.
