Brazil’s JBS has finalised its acquisition of Rivalea, an Australian pork production company, from Singapore-listed food company QAF.
Rivalea is a market leader in hog breeding and processing in Australia, accounting for 26% of the hogs processed in the country. The company owns two pork processing facilities, located in Melbourne and Corowa.
The acquisition was originally announced back in June last year for a proposed enterprise value of AUD 175 million ($135 million).
With the purchase, JBS hopes to strengthen its position in Australia and become the leader in pork processing in the country. The deal adds a number of brands to JBS’s portfolio and is expected to strengthen the company’s export platform.
“With the acquisition of Rivalea, JBS becomes a leader in pork processing in Australia. We will add important brands to our portfolio to create strong conditions to accelerate the growth of the value-added and branded businesses in the country, in addition to strengthening our export platform,” said Gilberto Tomazoni, JBS global CEO, in a statement released back in June.
© FoodBev Media Ltd 2021
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