Brazilian Meat Producer JBS Relocating To Ireland
Brazilian food company JBS, the largest meat producer in the world, has outlined a change in its corporate structure that could see assets worth over €30 billion transferred to Dublin. JBS intends to effectively make Irish company JBS Foods International (JBSFI) the parent company for the global group, which sells meat products in 190 countries worldwide.
JBS Foods International (JBSFI), which has its headquarters at the Docklands' offices of A&L Goodbody in Dublin, will take ownership of all JBS assets, with the exception of those of its Brazilian domestic beef and leather business.
As the new JBS parent company, JBSFI will be run from Hertfordshire (England) and Irish-listed on the New York stock exchange.
JBS - which acquired Northern Ireland poultry company Moy Park for €1.31 billion last year - expects that the move will boost its profile with international investors.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Martha Sparrius. To subscribe to ESM: The European Supermarket Magazine, click here.