Meat giant joins the salmon business

The deal has already been approved by the controlling shareholders and is expected to be concluded by the end of 2021, with the approval of the Tasmanian company’s other shareholders and the Australian authorities.

“This is a strategic acquisition, which marks the entry of JBS into the aquaculture business. We will repeat what we did previously with poultry, pork and value-added products – to make our portfolio even more complete. Aquaculture will be a new growth platform for our businesses,” said Gilberto Tomazoni, Global CEO of JBS.

The acquisition of vertically integrated producer Huon is a first step into fish production for JBS.

Huon has invested more than AU$ 350 million over the last five years in operational infrastructure and sustainable practices in the salmon production cycle, positioning the company for sustainable growth.

Huon has 13 production sites and three processing units. Salmon, for example, is sold in fillets and can be found vacuum-packed at retail stores, as well as smoked products or salmon ova.

JBS already operates in Tasmania and this is the company’s second acquisition in Australia this year.

“There is huge complementariness with the other business we carry on in Australia, including customer relationships, distribution and marketing”, says Brent Eastwood, CEO of JBS in Australia.

In March, Seara, in Brazil, announced that it was beginning to distribute products in the fish and seafood segment, with products such as salmon, tilapia and shrimp, among others. Now, following the acquisition in Australia, JBS will have its own production.

“Huon has 33 years of experience in sustainable production, superior  technology, and superior quality products widely recognized by the Australian consumer, in an industry with excellent growth prospects worldwide,” Gilberto Tomazonisaid, commenting that in addition to a significant share of the Australian market, 15% of Huon’s production is channelled to exports.