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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (13214)	1/27/2025 9:12:18 AM
From: elmatador	Respond to of 13777

Brazilian Meat Packer JBS Buys Half of Major Egg Producer Egg prices are rising on concern over bird flu outbreaks JBS will look to leverage its poultry business to aid growth By Clarice Couto January 27, 2025 at 2:33 PM GMT+3 bloomberg.com Brazil's JBS buys stake in Mantiqueira to enter egg sector Published 01/27/2025, 07:02 AM Updated 01/27/2025, 07:05 AM Brazil's JBS buys stake in Mantiqueira to enter egg sector SAO PAULO (Reuters) - Brazilian meatpacker JBS has agreed to buy a stake in Mantiqueira Alimentos, it said on Monday, marking the food giant's entry into the egg sector in a deal that valued Mantiqueira at 1.9 billion reais ($321 million). JBS said in a securities filing it had agreed to purchase shares representing 48.5% of the total capital stock and 50% of the voting shares of Mantiqueira, meaning it would share control of the company with its founder Leandro Pinto. Mantiqueira currently produces around 4 billion eggs per year and has plants in six Brazilian states, JBS said, adding it also exports eggs to countries in South America, Asia, Africa and the Middle East. "This agreement will allow JBS to enter the egg sector and reinforce its global platform diversified by geography and protein, which has allowed the company to continue growing with solid results," JBS said. JBS currently operates in the beef, chicken and pork segments, in addition to producing salmon and "alternative", such as plant-based, proteins. The Mantiqueira deal still requires regulatory approval. ($1 = 5.9109 reais)