The transaction will combine two established poultry businesses, expanding operations across Australia and strengthening production and customer capabilities.
The investment will develop an integrated poultry value chain spanning feed, hatcheries, farming, processing and cold-chain infrastructure while creating thousands of jobs.
The extension gives livestock producers additional time to complete compliance requirements while protecting South Africa’s access to a key red meat export market.
Agriculture CS Mutahi Kagwe calls for modern technology, stronger processing capacity and new export markets to increase livestock incomes and create jobs.
JBS is seeking full ownership of Pilgrim’s Pride in a proposed stock-for-stock transaction that could simplify its corporate structure and remove the poultry company from Nasdaq.