JBS SA, the world's largest beef processor, agreed to buy Brazilian pasta maker Comércio e Indústria de Massas Alimentícias Massa Leve Ltda. for 260 million reais ($110 million). Most of the transaction will be paid for by JBS shares currently held in treasury.
JBS said it will pay 200 million reais in the form of shares the company holds. Massa Leve is based in the municipality of Rio Grande da Serra in the state of São Paulo. The company is a leading fresh pasta producer and the third largest producer of ready meals and sandwiches in Brazil.
"This acquisition represents a relevant opportunity to capture synergies when operated jointly with JBS Foods," JBS stated.
