JBS recently completed its $1.45 billion acquisition of Cargill's pork operations in the U.S. following approval by government regulators, including the U.S. Department of Justice.
JBS USA Pork — a subsidiary of the Brazilian meat giant — announced the agreement to take over Minnesota-based Cargill’s assets in July.
The deal includes two pork processing facilities, four hog farms and five pork feed mills, and makes JBS one of the largest meat companies in the country.
“This acquisition is fully aligned with JBS' strategy to grow our portfolio of prepared and value-added products, further expanding our company’s customer base and enhancing our premium pork product mix,” said JBS CEO Wesley Batista.
JBS' pork, poultry and beef operations each now rank second in U.S. market share, trailing only Smithfield Foods in pork and Tyson Foods in poultry and beef.
The Justice Department did not comment on the transaction. Critics, including U.S. Sen. Chuck Grassley, previously questioned whether the deal would hinder competition in the pork sector.
“If the JBS-Cargill deal is finalized, the four largest pork processors will control roughly 71 percent of the processing capacity in the country," Grassley, R-Iowa, said in July.
