Meatpacker JBS Takes Plunge Into Seafood Industry with $300 Million Huon Aquaculture Purchase
Brazil-based meatpacking giant JBS has agreed to purchase Australian salmon farmer Huon Aquaculture for AU$425 million (US$313 million).
Huon said JBS will acquire 100% of Huon for a cash consideration of $3.85 per share. The share price is a 61% premium over the closing price of $2.39, which was the last traded price before the company announced a strategic review on February 26.
The board at Huon Aquaculture unanimously recommended the move to sell to the world’s largest meat...
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