Brazil's JBS S.A., the largest beef processor in the world, announced on Jan. 31 that it has completed its acquisition of Independencia Group in an all-stock transaction.
JBS said it would exchange almost 23 million shares of common stock for the assets of Independencia, which include two beef processing plants, two hide processing plants and two storage and distribution facilities in central Brazil.
Independencia had been in bankruptcy reorganization.
JBS announced an agreement for the acquisition early last year (Feedstuffs, April 30, 2012).
JBS, headquartered in Sao Paulo, Brazil, is the largest beef processor and leather manufacturer in Brazil, the second-largest chicken integrator in the U.S., the third-largest beef and third-largest pork processor in the U.S. and a major beef processor in Canada.
The company reported 2011 sales that totaled 61.797 billion reals ($34.128 billion).