JBS buys stake in Mantiqueira to enter egg sector
JBS agreed to purchase shares representing 48.5%
27 January 2025
1 minute read
By: Brazilian meatpacker JBS has agreed to buy a stake in Mantiqueira Alimentos, Reuters reported, citing the company on Monday. The purchase marks the food giant's entry into the egg sector in a deal that valued Mantiqueira at 1.9 billion reais ($321 million).
JBS said in a securities filing it had agreed to purchase shares representing 48.5% of the total capital stock and 50% of the voting shares of Mantiqueira, meaning it would share control of the company with its founder Leandro Pinto.
Mantiqueira currently produces around 4 billion eggs per year and has plants in six Brazilian states, JBS said, adding it also exports eggs to countries in South America, Asia, Africa and the Middle East.
"This agreement will allow JBS to enter the egg sector and reinforce its global platform diversified by geography and protein, which has allowed the company to continue growing with solid results," JBS said.
JBS currently operates in the beef, chicken and pork segments, in addition to producing salmon and "alternative", such as plant-based, proteins. The Mantiqueira deal still requires regulatory approval.
($1 = 5.9109 reais)
