JBS S.A.(JBSAY), world-renowned meat, poultry and food processor, has finalized the deal for acquiring mayonnaise and margarine assets from Bunge Alimentos (BG.NYSE).
The acquisition will see JBS take ownership of three of Bunge’s manufacturing plants. These are situated in São Paulo, Santa Catarina and Pernambuco.
JBS first announced its plan to acquire Bunge’s businesses in 2020. At the time, Seara, JBS’s subsidiary that deals in poultry processing, was ready to pay up to 700 million reais for Bunge’s businesses.
With the acquisition deal wrapped up, JBS will gain rights over certain brands, specifically, Primor, Delicia and Gradina.
This will help to increase its share in the margarine market in Brazil, not to mention, expand its distribution channels.
According to JBS, the deal will provide a massive financial boost to Seara, as it’s expected to bring up to 1.2 billion reais in extra revenue.