USA — Swift Prepared Foods, a subsidiary of Brazil meat processing giant JBS, has reached an agreement to acquire Sunnyvalley Smoked Meats Inc. for US$90 million.
Founded in 1990, Sunnyvalley Smoked Meats produces a variety of quality smoked bacon, ham and turkey products for sale to retail and wholesale customers under the Sunnyvalley brand.
According to a statement from JBS, the acquisition by Swift includes the company’s production facility in Manteca, which employs more than 300 people and has gross annual revenues of US$150 million.
“Today’s announcement is consistent with our company’s long-term strategy to increase our value-added and branded portfolio, and provide even more diverse product offerings to customers and consumers,” said Tom Lopez, president and chief operating officer, Swift Prepared Foods.
“Sunnyvalley Smoked Meats makes delicious food products, has an impressive history and a reputation for exceptional quality and service. We look forward to welcoming the dedicated Sunnyvalley team members to Swift Prepared Foods and continuing to grow the brand.”
Following the transaction, Bill Andreetta, president and founder of Sunnyvalley Smoked Meats, will join the Swift Prepared Foods team and continue to lead the business.
“I am extremely proud of everything Sunnyvalley has accomplished and excited about joining one of the world’s leading food companies,” said Bill Andreetta, president, Sunnyvalley Smoked Meats.
“We will continue to operate as usual with a focus on quality and service for our customers, as we work to grow our business. With the support of Swift Prepared Foods, the future looks very bright.”
Earlier in May, Swift commissioned its new US$68 million ready-to-eat bacon facility in Moberly, Missouri.
Swift Foods is also opening a plant in Columbia, on Paris Road. The 325,000 square foot plant will be the host to an Italian meats and charcuterie production plant.
Meanwhile, Australia’s competition regulator has raised concerns over meatpacker JBS SA’s proposed A$175 million ($128.3 million) acquisition of pork processor Rivalea.
If the deal proceeds, JBS will have a significant presence in pig farming, export-accredited pig abattoirs, and related products through its Primo Smallgoods brand, the Australian Competition and Consumer Commission (ACCC) said.
“Our concern is not limited to JBS potentially denying access to processing facilities, it’s also about the price and terms on which access would be provided,” ACCC Deputy Chair Mick Keogh said.
The regulator also raised concerns that after the deal, JBS may raise the price of fresh pork or reduce the supply of pork to some producers from Rivalea’s Diamond Valley Pork abattoir.
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