JBS to Revive Smithfield Foods Take Over

JBS may seek to revive talks with Smithfield Foods to expand its pork business, according to Brazilian media reports.

The Brazilian meat producer is looking for acquisitions to stay ahead of rival Marfrig, which acquired 38 facilities in three years, Reuters said, quoting Valor Economico.

JBS, which bought Smithfield subsidiary Smithfield BeefGroup in 2008 for $565m, has spent more than $2.7bn on US acquisitions in beef, pork and poultry.

The company paid $1.4bn for beef and pork processor Swift & Co. in 2007.

Last year, JBS paid $800m for a majority stake in Texas-based chicken processor Pilgrim’s Pride.

JBS expects sales from direct distribution to reach about 55% of its total sales, compared to the present 10%.