The Brazilian meat giant reached an agreement to lease and operate assets of Frangosul, controlled by Groupe Doux in France, JBS said in a statement. JBS will not take on any debt in the transaction.
The deal will push JBS’ chicken production to nearly 9 million birds daily, JBS said.
“The assets will permit JBS to have a relevant operation in the chicken sector in Brazil, allowing technology and knowledge transfer between its various production units,” the company said in a statement.
JBS will create a new unit, JBS Chicken Brazil, and will name James Cleary as chief executive officer.