JBS USA files for IPO, moves jobs to Greeley

GREELEY – JBS USA Holdings Inc., a wholly owned subsidiary of the world’s largest beef processor JBS S.A., has filed with the U.S. Securities and Exchange Commission for a global initial public offering of its common stock to raise $2 billion to expand its operations.

The July 22 filing said the company expects to apply for a listing of its common stock on the New York Stock Exchange under the symbol “JBS.”

In its prospectus filed with the SEC, JBS said it would use some of the capital raised through the stock offering to “continue to successfully integrate recent acquisitions and selectively pursue additional value-enhancing growth opportunities.”

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JBS S.A., based in Brazil, acquired the former Swift & Co. in July 2007. That company has since been renamed JBS USA Holdings Inc. and has its headquarters in Greeley. Last year, the company acquired the Tasman Group beef company in Australia and Smithfield Beef Group, which included Five Rivers Cattle Feeding in Loveland, but was blocked by federal regulators from purchasing Kansas City-based National Beef because of possible anti-trust violations.

“We have a proven track record of successfully acquiring and integrating companies, resulting in production and operating synergies,” according to the prospectus. “We will continue to work to maximize potential synergies from these acquisitions. Additionally, we intend to continue to selectively pursue additional value-enhancing growth opportunities as they arise.”

JBS has also announced it will relocate 15 to 30 corporate jobs from Green Bay, Wis. to its headquarters in the Promontory business park in west Greeley. Chandler Keys, JBS spokesman, said the jobs are held by mostly senior employees of Smithfield Beef Group, now called JBS Packerland, in sales, IT, quality assurance and engineering.

Keys said it’s unclear at this time how many of the employees will move to Colorado but he expected most would. He said the move is designed to consolidate higher-level JBS USA employees in one location.

“It’s just about putting people in one headquarters so they’re all around each other and can attend meetings and coordinate their activities,” he said.