SAO PAULO, June 8 2013 (Reuters) – Brazil’s JBS SA, the world’s largest meat producer, will announce the purchase of Brazilian poultry producer Seara, a unit of Marfrig Alimentos SA , in the coming days, a source with knowledge of the operation told Reuters on Saturday.
“All I can say is that the deal was done,” the source said without providing additional details.
The source was unable to say if the purchase is of Marfrig’s Seara Brasil unit, or of the larger Seara Foods division. In addition to Seara Brasil, Seara Foods also controls Moy Park and Keystone, meat packers based in the United States.
Calls to JBS’s press office were not answered on Saturday outside of normal business hours.
Sales at Seara Brasil, Seara Foods’ largest unit, jumped 48 percent in the first quarter of 2013 to 2.05 billion reais ($962 million) and was responsible for about 30 percent of Marfrig’s total revenue.
Marfrig shares have lost 12 percent of their value this year on concern that the company may not be able to reduce its high level of debt.
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