GREELEY — JBS USA has entered into an agreement to acquire Cargill’s U.S.-based pork business for $1.45 billion, the two companies announced Wednesday.
Completion of the acquisition is subject to regulatory review and approval.
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Martin Dooley, president and chief operating officer of JBS USA Pork, said in a prepared statement that the success of Cargill’s pork team and hog suppliers, as well as its industry leadership in areas such as animal welfare, led JBS to pursue the acquisition.
Greeley-based JBS USA is acquiring two of Wichita-based Cargill’s Midwest meat-processing plants, one in Ottumwa, Iowa, and the other at Beardstown, Ill. Both plants were acquired by Cargill in 1987, and in 2014 they processed 9.3 million hogs.
JBS also is acquiring five feed mills — two in Missouri, and one each in Arkansas, Iowa and Texas — and four hog farms — two in Arkansas and one each in Oklahoma and Texas.
JBS first entered the U.S. pork market with the acquisition of Swift & Co. in 2007.
JBS USA is an indirect, wholly-owned subsidiary of JBS S.A. It processes beef, pork and lamb in the United States, beef in Canada, and beef and lamb in Australia.