JBS completes $1.45bn acquisition of Cargill's U.S. pork businessStaff writer ▼ | November 2, 2015
Brazilian JBS completed its $1.45 billion acquisition of Cargill's U.S. pork assets, making it one of the largest meat companies in the United States.
Acquisition done One of the largest meat companies in the United States
The deal closed on the earlier end of the forecast JBS gave in early July, when officials said they expected antitrust approval of the pork assets to clear within four to seven months. In August, JBS raised $1.2 billion in the syndicated loan market to help fund the acquisition.
The deal includes Cargill's two meat processing plants in Iowa and Illinois, as well as five feed mills in Missouri, Arkansas, Iowa and Texas and four hog farms in Arkansas, Oklahoma and Texas.
The transition was already under way at the two plants in Beardstown, Illinois, and Ottumwa, Iowa. ■