Brazilian meat processing giant JBS reportedly eyeing salmon farmer Huon acquisition
Back in February, Tasmania-based Huon Aquaculture revealed it was considering approaches from suitors as its profit levels plunged due to COVID-19.
By Hanna Gezelius, IntraFish
21 July 2021
Brazilian meat processing behemoth JBS is reportedly eyeing a potential acquisition of Australian salmon farmer Huon Aquaculture, according...
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Brazilian meat giant linked to Huon takeover
Cash-strapped Tasmanian salmon farmer Huon Aquaculture might be bought by Brazilian meat processor JBS, according to Australian media reports.
JBS Foods, which already has operations in Australia and New Zealand, as well as North America, Europe and Mexico, is said to be those considering acquiring the company.
In February, Huon announced a statutory loss of A$95.3 million (£53.6m) loss for the first half of its 2021 financial year (FY2021) to December 31, 2020. At the same time, it appointed Australian corporate finance advisors Grant Samuel to carry out a strategic review of a sale following unsolicited approaches from potential strategic partners and investors.
Due diligence ...