Fish Farmer

Brazilian meat giant snaps up Australia’s Huon


BRAZILIAN meat processor JBS has entered into an agreement to buy the Huon Aquacultur­e Group, Australia’s second largest salmon farmer. JBS will acquire all of Huon’s issued shares at a market value of AUS $425m (£225m) or 1.64bn Brazilian reals.

Huon is based in Southern Tasmania and owned by the Bender family. Huon’s board, including major family shareholde­rs Peter and Frances Bender has unanimousl­y recommende­d that all other shareholde­rs vote in favour of the agreement in the absence of a superior offer.

Gilberto Tomazoni, CEO Global with JBS, said: “This is a strategic acquisitio­n, which marks the entry of JBS into the aquacultur­e business. We will repeat what we did previously with chicken, pork and valueadded products – to make our portfolio even more comprehens­ive.”

JBS, headquarte­red in Sao Paulo, Brazil is the world’s largest meat processor and already owns a processing business in Australia.

 ??  ?? Above: Huon Aquacultur­e
Above: Huon Aquacultur­e

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