In this file:
· JBS snaps up cold-meats business Frigorifico Marba
· Seara from JBS buys Marba refrigerator
JBS snaps up cold-meats business Frigorifico Marba
By Simon Harvey, Just-Food
7 November 2019
Brazilian meat giant JBS has entered an agreement to acquire local cold-meats business Frigorífico Marba for an undisclosed sum.
The deal, which is subject to approval from the country's competition regulator – the Administrative Council for Economic Defense (CADE) – has been conducted through JBS' wholly-owned subsidiary Seara Alimentos.
JBS said in a statement the acquisition is part of a strategy to increase the share of value-added and branded products in its portfolio, which also now includes a plant-based line after Seara launched the Incrível Burger Seara Gourmet earlier this year.
Based in Sao Paulo, the same city as JBS, Frigorífico Marba owns two factories producing products under its namesake brand and also Pauliceia. The line-up includes mortadelas, or Italian-style sausages, hams, fresh meat, bacon and salami.
The company generates revenues of around BRL350m (US$85.6m).
JBS has been active in the M&A arena this year, instigating deals...
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Seara from JBS buys Marba refrigerator
Time24 News (CA)
Nov 6, 2019
According to the company, this acquisition is in line with the company's strategy to expand the participation of higher value-added products and brands in its portfolio.
With annual revenues of around R $ 350 million, Marba is one of the most traditional brands in the cold cuts and sausages segment and a reference in the mortadella segment in the state of São Paulo.
"The consummation of this transaction is subject to the approval of the Brazilian antitrust authority, among other conditions usual to this type of transaction," said the company in a statement.
Prior to announcing the acquisition of Marba, JBS shares suffered a sharp drop in the Brazilian stock market today. The shares closed down 5.23% to $ 26.60 each.
The fall in the paper reflects the high of the dollar (2.22% today), as much of the revenue of the company, which is exporter, is linked to the US currency.
Yesterday, the stock had dropped...