JBS USA has agreed to acquire US meat-packing business Empire Packing Company and its Ledbetter meat brand in a transaction valued at $238 million.
Headquartered in Memphis, Tennessee, Empire Packing provides packaged meat products including beef, pork and chicken to retailers in the US, while the Ledbetter brand sells meat products such as steaks, smoked pork and turkey wings in the US market.
JBS will acquire five production facilities located in Memphis, Cincinnati, Denver, Mason and Olympia as part of the transaction, as well as the full operations of the Ledbetter brand.
The transaction was announced on the Brazilian stock exchange yesterday, and the deal is currently subject to regulatory approvals.
JBS USA CEO Andre Nogueira said: “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 US that fit well in our business model.”
JBS USA has made a number of significant investments in the last year, as it seeks to expand its position in the North American market.
This included the $95 million expansion of its Grand Island, Nebraska, beef facility in May 2019, a $20 million investment to expand its Plumrose USA prepared foods business in Iowa, and the inauguration of a $20 million innovation centre in Colorado to accelerate product development.
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