AUSTRALIA's largest fresh meats processor JBS Australia has further expanded its operations, acquiring small goods producer Primo Group for $1.45 billion.
Primo is the largest ham, bacon and smallgoods producer in Australia and New Zealand, producing brands including Primo Smallgoods, Hans and Beehive. Its operations include five key processing plants operating across Australia and NZ, employing more than 3000 people.
The proposed sale was welcomed by Primo Group chief executive offier Paul Hitchcock.
“While it will remain very much business as usual for our employees, suppliers and customers, this transaction
offers tremendous opportunities for a producer of high quality products like Primo,” Mr Hitchcock said.
“We look forward to being part of JBS and capitalising on its international distribution network.”
JBS CEO Wesley Batista said the acquisition is strongly aligned with the JBS global strategy to expand its presence in the value-added product category with wellknown brands.
“Primo Group is the leading company in this segment with strong brands and represents an outstanding opportunity to grow our business in Australia and internationally," he said.
"We are seeing strong annual growth in consumption of processed meat products with good prospects to increase exports of high quality convenience products from the Primo Group’s portfolio.”
