SAO PAULO, Jan 27 (Reuters) - Brazilian meatpacker JBS announced on Monday that it has reached an agreement to acquire a stake in Mantiqueira Alimentos, marking its foray into the egg industry. The deal values Mantiqueira at 1.9 billion reais ($321 million).
According to a securities filing by JBS, the agreement involves buying shares equivalent to 48.5% of the total capital stock and 50% of the voting shares of Mantiqueira. This means that it will jointly control the company with its founder, Leandro Pinto.
Mantiqueira currently produces approximately 4 billion eggs annually and operates facilities in six Brazilian states. JBS noted that Mantiqueira also exports eggs to countries in South America, Asia, Africa, and the Middle East.
In a statement, JBS highlighted that this agreement enables the company to enter the egg market and strengthen its global presence across diversified geographies and protein sources, facilitating sustained growth and delivering robust performance.
JBS is currently engaged in beef, chicken, and pork businesses, along with producing salmon and other "alternative" proteins, such as plant-based options. The acquisition of Mantiqueira is subject to regulatory approval.
(Note: $1 = 5.9109 reais)