Type Sociedade Anônima Industry Food processing Headquarters São Paulo, Brazil Founder Jose Batista Sobrinho | Traded as BM&F Bovespa: JBSS3 Founded 1953 Area served Worldwide Revenue 45 billion USD (2014) | |
Stock price JBSS3 (BVMF) R$ 10.95 -1.04 (-8.67%)17 Mar, 1:44 PM GMT-3 - Disclaimer CEO Wesley Mendonça Batista (26 Jan 2011–) Subsidiaries Seara Foods, JBS USA, Pilgrim's Pride, Moy Park Profiles | ||
Jbs s a
JBS S.A. is a Brazilian company that is the largest (by sales) meat processing company in the world, producing factory processed beef, chicken and pork, and also selling by-products from the processing of these meats. It is headquartered in São Paulo. It was founded in 1953 in Anapolis, Goias. The company has 150 industrial plants around the world. J&F Investimentos is the parent company of JBS S.A.
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Jbs s a
History
JBS was initially established as a slaughtering business by rancher Jose Batista Sobrinho, a rancher in Anápolis, Brazil, in 1953. (The company's name comes from the founder's initials.) Sobrinho's business began to expand when the establishment of Brazil's capital, Brasilia, brought a new market within reach of his ranch. Over the late 1960s Sobrinho expanded into owning slaughterhouses; then, in the 1980s, the company began expanding within Brazil and purchasing other meat processing companies. JBS became a publicly held company in 2007, and in the same year received a major investment from BNDES (Brazilian Development Bank).
In subsequent years, the company has grown to become the world's largest company in the beef sector with the acquisition of several stores and food companies in Brazil and the world, including the 2007 US$225m acquisition of U.S. firm Swift & Company, which was the third largest U.S. beef and pork processor, renamed as JBS USA. It leads the world in slaughter capacity, at 51.4 thousand head per day, and continues to focus on production operations, processing, and export plants, nationally and internationally.
With the new acquisition, JBS entered the pork market, featuring an impressive performance in this segment, to end the year as the third largest producer and processor of this type of meat in the United States. The acquisition expanded the company's portfolio to include rights to the worldwide use of the Swift brand.
The next year, JBS acquired Smithfield Foods' beef business. It was renamed JBS Packerland.
JBS's production structure is embedded in consumer markets worldwide, with plants installed in the world's four leading beef producing nations (Brazil, Argentina, United States, and Australia), serving 110 countries through exports.
On September 16, 2009, JBS announced that it had acquired the food operation of Grupo Bertin, one of three Brazilian market leaders, consolidating its position as the largest beef producer in the world. The banks JP Morgan Chase and Santander Brasil assisted in the transaction. On the same day it was announced that the company had acquired 64% of Pilgrim's Pride for a bid of US$800 million, establishing JBS's position in the chicken production industry, but currently the company owns 75.3% of Pilgrim's Pride.
In August 2010, it was reported that JBS is considering to sell some of the eight slaughterhouses it owned in Argentina because of "scarce livestock and export restrictions".
As of 2011, JBS had been trying to bid to gain control of Sara Lee Corporation's meat business. JBS has shown interest in the meats business but struggled to push forward with a bid for the entire company.
On May 27, 2014, Pilgrim's Pride Corporation, which is 75% owned by JBS SA, made an unsolicited $5.6 billion bid for Hillshire Brands Co. (HSH).
On July 28, 2014, Tyson Foods, Inc. announced its intention to sell Tyson de México and Tyson do Brasil, its Mexican and Brazilian poultry subsidiaries, to JBS SA for $575 million in cash by the end of 2014, pending regulatory approval.