JBS SA, the world's largest meat processor, announced plans to acquire Primo Smallgoods Group for $1.25 bn. The business will be acquired through JBS Australia. The all-cash transaction is subject to approval by Australian regulatory authorities.
JBS expects incremental annual revenues of approximately $1.6 bn. and earnings before interest and taxes (EBITDA) of $150 mill. Additionally, the company expects the deal to produce $30 mill. in synergies.
Primo Group is a leading producer of ham, bacon and smallgoods in Australia and New Zealand. The company makes meat products under several brands including Primo Smallgoods, Hans, Beehive, Hunter Valley Quality Meats and Primo Quality Meats. Primo Group operates five manufacturing plants, seven distribution centres and 30 retail stores. The company employs more than 4,000 workers.
Source: JBS SA