JBS to pay A$1.45b to buy Primo Group

Sydney

JBS SA, the world's biggest meat producer, said it would pay A$1.45 billion (S$1.6 billion) to buy Primo Group, the largest producer of ham and bacon in Australia and New Zealand.

JBS plans to use the takeover to increase exports to Asia and lift the amount of higher-cost processed foods it produces, according to an e-mailed statement from the Australian unit of the Sao Paulo-based company.