Brazil’s JBS acquires Huon Aquaculture

With approval from Australia’s Foreign Investment Review Board now granted, Brazil-based, international meat processor JBS will complete its 100 per cent acquisition of Huon Aquaculture, Australia’s second-largest salmon producer.

The deal, with an implied equity value at the time of US$315 million (AU$415 million) and an enterprise value of US$403 million (AU$531 million), was approved by controlling shareholders in 2021.

“This is a strategic acquisition, which marks the entry of JBS into the aquaculture business. We will repeat what we did previously with poultry, pork and value-added products – to make our portfolio even more complete. Aquaculture will be a new growth platform for our businesses,” commented Gilberto Tomazoni, Global CEO of JBS.

Vertically integrated, Huon will mark the beginning of fish production by JBS, which already processes beef cattle, poultry, pigs and lamb in plants around the world. Huon has invested more than AU$350 million over the last five years in operational infrastructure and sustainable practices in the salmon production cycle, positioning the company for sustainable growth.

Huon has 13 production sites and three value-added product processing units.