JBS says Pilgrim’s Pride stake not for sale

Reading Time: < 1 minute

Published: June 7, 2017

(JBSsa.com)

Chicago | Reuters — Brazilian meat packer JBS SA’s core U.S. assets, including its majority stake in Pilgrim’s Pride Corp., are not for sale, the company said on Wednesday, a day after announcing a deal to sell Argentine operations.

U.S. chicken company Pilgrim’s Pride is critical to JBS’ long-term strategy of pursuing business opportunities that reduce volatility and enhance margins, JBS said in a statement.

“No core assets at JBS USA, or any other part of the world, are candidates for sale,” the statement said.

Read Also

Larvae of the screwworm fly, collected from infected cows, are observed at the COPEG sterile fly production plant, which fights the spread of the cattle screwworm, in Pacora, Panama, June 11, 2025. REUTERS/Enea Lebrun/File Photo

Mexico sees 32 per cent jump in flesh-eating screwworm cases since August as cases move north

Mexico recorded 6,703 cases of animals infested with New World screwworm as of September 13 since the start of the outbreak in November of last year. That was compared to 5,086 confirmed cases during the previous period, which ended August 17.

Among JBS USA’s assets are one of Canada’s largest beef packing plants and one of the country’s largest feedlots, both at Brooks, Alta.

The agreement to sell Argentine operations to Minerva SA , announced on Tuesday, was the first by JBS, the world’s largest meat packer, since its founders admitted to paying bribes to Brazilian politicians in exchange for favours in a scandal that threatens to topple President Michel Temer.

The US$300 million transaction, expected to close in July, also involves the sale of JBS plants in Paraguay and Uruguay to Minerva.

Last month, J+F Investimentos, controlling shareholder of JBS, agreed to pay a record-setting 10.3 billion real (C$4.24 billion) fine for its role in corruption scandals.

Reporting for Reuters by Tom Polansek in Chicago.

explore

Stories from our other publications