JBS USA parent secures $1.2B in loans to buy Cargill’s pork business

GREELEY — The parent company of meat processor JBS USA in Greeley announced Monday that it has received a commitment for up to $1.2 billion of long-term financing to be used with cash on hand to pay for the acquisition of Cargill Inc.’s pork business in the United States.

Earlier this month, JBS said its U.S. subsidiary signed an agreement to buy its competitor’s pork businesses for $1.45 billion.

In a statement, Brazil-based JBS SA, the world’s largest meat processor, said that the financial institutions providing the commitment are Credit Suisse AG, Bank of America Merrill Lynch and Rabobank Nederland.

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Combined with Cargill’s pork operations, JBS USA’s pork businesses would have sales of around $6.3 billion and the capacity to process a total of 89,300 animals a day. Those figures would put it behind only Smithfield Foods Inc. in the pork segment in the United States.