JBS USA secures approval for Australian acquisition
JBS USA’s proposal to acquire Australian Consolidated Food Holdings Pty Ltd (Primo), through its wholly-owned subsidiary, JBS Smallgoods HoldCo Australia Pty Ltd, has been approved by the Hon Joe Jockey MP, Treasurer of the Commonwealth of Australia.
However, the approval is subject to “a number of important conditions”, in relation to the services currently provided by Primo at its abattoir in Scone, New South Wales (NSW).
JBS has agreed to maintain the custom service killings currently provided at the NSW site, to maintain them in good faith and to the best of its abilities in both a competitive and profitable manner, and to provide reports for the Foreign Investment Review Board on its compliance with the aforementioned conditions every six months. The conditions will be reviewed in three years’ time.
Primo is Australia’s largest producer of ham, bacon and smallgoods [small meat products].
