JBS SA to acquire poultry processor for $63 million
SAO PAULO, Brazil — Brazilian meat company JBS SA has agreed to buy local poultry processor Agroveneto for approximately $63 million.
Agroveneto, which specializes in the production of chicken products, operates out of Nova Veneza in the southern Brazilian state of Santa Catarina. The plant has capacity to process 140,000 birds per day and sells a range of more than 30 different products both domestically and in the export market ranging from chilled and frozen cuts, spiced and breaded products as well as a line of Individually Quick Frozen (IQF) products, exporting mainly to Asia, Europe and the Middle East.
The new production unit will be incorporated into JBS Aves, which now encompasses four production facilities in Brazil with a daily capacity to process 1.34 million birds.