The Kroger Co. and Harris Teeter Supermarkets Inc. announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash.
Smithfield Foods Inc., which has agreed to a $4.7 billion bid from Shuanghui International Holdings Ltd., was urged by activist investor Starboard Value LP to consider splitting itself up instead.
JBS USA invested significant capital to upgrade its acquisitions, and today it goes the extra mile to incorporate state-of-the-art, industry-leading processes and strategies, making a statement that it is in the U.S. protein market for the long haul.
When Brazilian protein processor JBS S.A., began its run of major U.S. protein acquisitions in 2007, many wondered where — or if — the company would stop.
Although the involvement of JBS with the Pilgrim’s Pride facilities takes a slightly different approach, it remains invested in and accessible to all its chicken-processing plants.
In 2009, JBS made the decision to invest in the U.S. chicken market, and pull Pilgrim’s Pride from bankruptcy, gaining a controlling interest in the chicken processor and beginning a monstrous turnaround project that continues today.
The transformation and subsequent growth of JBS USA’s Marshalltown, Iowa, pork facility shows the company correctly assessed the untapped potential of its acquisitions.
A significant part of the belief system throughout JBS S.A., according to Wesley Batista, president and CEO of JBS S.A.’s global operations, is that hard work always makes the difference — that miracles do not occur in the meat and poultry business.