Meat Giant JBS to Enter Fish Market With $314 Million Huon Deal
The northern Australian offices of JBS Foods.
Photographer: Patrick Hamilton/AFP/Getty Images
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JBS SA, the world’s biggest meat producer, is expanding into the fish business by acquiring Australian salmon producer Huon Aquaculture Group for A$425 million ($314 million).
The deal already has the backing of the majority shareholders and is set to be completed by the end of this year following approval by Australian authorities, the Sao Paulo-based company said in a statement.