JBS Shares Jump on Top Meat Producer’s First Move Into Eggs
- Egg prices are surging on concern over bird flu outbreaks
- JBS will look to leverage its poultry business to aid growth
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Shares of JBS SA, the world’s biggest meat producer, climbed in Sao Paulo trading after the company made its first foray into the egg sector at a time when concern over the global spread of bird flu is buoying prices.
Brazil’s JBS has acquired 50% control of Mantiqueira Brasil, a privately held firm that’s South America’s top egg producer, it said in a statement on Monday. It will share control of the company with Mantiqueira founder and chairman, Leandro Pinto.