SAO PAULO (Reuters) – Brazilian meat packer J.
JBS said in a securities filing that it has agreed to buy shares representing 48.5% of the total capital and 50% of the voting shares in Mantiqueira, meaning it will share control of the company with its founder Leandro Pinto.
GPS said that Mantiquera currently produces about four billion eggs annually and has factories in six Brazilian states, adding that it also exports eggs to countries in South America, Asia, Africa and the Middle East.
“This agreement will allow JBS to enter the egg sector and strengthen its global platform that is diversified by geography and protein, allowing the company to continue to grow and deliver strong results,” JBS said.
JBS currently operates in the beef, chicken and pork sectors, as well as producing salmon and “alternative” proteins, such as plant proteins. The Mantiqueira deal still requires regulatory approval.
($1 = 5.9109 riyals)
(Reporting by Gabriel Araujo; Editing by Toby Chopra and Jan Harvey)
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