JBS Completes Rockdale Beef Acquisition
AUSTRALIA - Brazilain beef processing giant JBS has satisfied all the official conditions including the approval of the Australian Competition and Consumer Commission, to complete the acquisition of Rockdale Beef in Australia.
22 September 2010
1 minute read
JBS paid A$40.5 million (US$ 37.3 million) for the business, which is subject to further adjustments based on the level of the working capital at completion.
With a capacity of 200,000 cattle a year and a feedlot capacity of more than 53,000 cattle, Rockdale Beef will boost JBS’s Australian presence.
"As we look to gain efficiencies and serve our customers better, the addition of the Rockdale plant is a stride forward," Wesley Batista, CEO of JBS USA (parent of JBS Australia) said.
"With the integrated feedlot and the good cattle producers in the region, we will be able to customize evermore our raw material supply and reach the highest quality standards required by our many customers particularly those in Asia," Mr Batista added.
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