JBS reported its “best quarter in its history” in August, citing a net income that increased almost 30% to $839.2 million. The meatpacking giant claims its results were boosted by its meat business in the US and resilience in the Brazilian market.
The company’s most recent acquisition was for Australian salmon farmer Huon Aquaculture, for approx. $313 million. JBS Australia CEO, Brent Eastwood, said: “Our acquisition of Huon enables us to further grow our Australian protein business and strengthen our presence with consumers and customers.” Elsewhere, the meat manufacturer purchased European plant-based meat producer Vivera for approx. €341 million. It also announced its proposal to acquire the remaining common shares in Pilgrim’s Pride, in order to delist the company.
JBS suffered some controversial headlines. Most notably, its parent company J&F Investimentos pleaded guilty to US foreign bribery charges, agreeing to pay $128.3 million to settle the case. JBS also paid $11 million in ransom to resolve a cyberattack that temporarily shut down its meat processing operations in North America and Australia.
That said, JBS committed to achieving net-zero greenhouse gas emissions by 2040, supported by an investment of more than $1 billion over the next decade. In September 2020, it also unveiled its Together for the Amazon program, a series of long-term initiatives to promote conservation and sustainable development in the Amazon biome.
|Ranking (last five years):|
|Year end:||December 2020|
|Total sales, local currency:||204,524
|Food sales, local currency:||192,250
|Total sales, $m:||51,910
|Food sales, $m:||48,795
|Andre Nogueira, CEO, JBS Foods|
|Denilson Molina, CFO, JBS Foods|
|Fabio Sandri, CEO Pilgrim's|
|Kevin Arquit, Chief Legal Officer, JBS Foods|
|Shannon Grassl, President, JBS USA Regional Beef|