JBS confirms completion of Aussie beef firm acquisition, price tag

By Tom Johnston on 9/21/2010

JBS S.A. confirmed Monday the completion of its acquisition of Australian firm Rockdale Beef and disclosed terms of the deal, which it initiated in March.

The company said in a news release it paid $37.3 million for Rockdale, which slaughters 200,000 cattle per year and has a feedlot capacity of more than 53,000 head.

“As we look to gain efficiencies and serve our customers better, the addition of the Rockdale plant is a stride forward,” JBS USA CEO Wesley Batista said. “With the integrated feedlot and the good cattle producers in the region, we will be able to customize evermore our raw material supply and reach the highest quality standards required by our many customers particularly those in Asia.”

Australian regulators ruled nearly two weeks ago that the acquisition wouldn’t harm competition, paving the way for the deal’s completion. However, JBS withheld comment at the time.