São Paulo – The United States-based frozen food manufacturer Pilgrim’s Pride has made a bid this Tuesday (27th) for Hillshire Brands, another US-based enterprise in the processed meat business. Pilgrim’s belongs to the Brazilian-based JBS, the world’s leading meat processing company.
Pilgrim’s has offered US$ 45 per share of Hillshire Brands, amounting to US$ 6.4 billion for a 100% stake in Hillshire. In a statement released this Tuesday, JBS claimed the bid is “in line with JBS’ global strategy for reinforcing its presence in the value-added products segment.”
As per the JBS statement, Hillshire has approximately 9,000 employees and annual revenues of US$ 4 billion. The Chicago-based company owns the brands State Fair, Sara Lee, Ball Park and Hillshire Farms, in the United States.
In Brazil, JBS owns brands such as Swift, Friboi and Seara, among others. The company owns operations in Australia, South America, United States, and ships product to Africa and the Middle East. In 2013, the company posted R$ 92.9 billion (US$ 41.7 billion) in revenues.
*Translated by Gabriel Pomerancblum
