JBS SA has made an agreement to buy a salmon farming operation in Australia, in its first venture into aquaculture.
JBS will acquire all issued shares of the Huon Aquaculture Group in a deal valued at US$312 million. Huon’s salmon farm is the only family-owned aquaculture operation remaining in Tasmania, according to Fish Farmer magazine. It produces fresh filets, vacuum-packed portions and other products, mostly for the Australian market.
“This is a strategic acquisition, which marks the entry of JBS into the aquaculture business,” JBS CEO Gilberto Tomazoni said in a statement. “We will repeat what we did previously with chicken, pork and value-added products – to make our portfolio even more comprehensive.”
The deal is expected to close by the end of this year, subject to regulatory approval.