Brazilian firm JBS announced its purchase on Monday of U.S. Tyson Foods' poultry businesses in Mexico and Brazil for 575 million U.S. dollars.
After regulators' approval, Pilgrim's Pride, which is 75 percent owned by JBS, will operate Tyson de Mexico at 400 million dollars, while JBS Foods, a wholly owned subsidiary of JBS, will take over Tyson do Brasil at 175 million dollars.
Tyson de Mexico, headquartered in Mexico's northern city of Gomez Palacio, has three processing plants with 5,400 employees. With the purchase, Pilgrim's Pride's earnings are expected to rise to some 650 million dollars annually.
Tyson do Brasil also has three processing plants in southern Brazil with some 5,000 employees, and earnings of JBS are expected to increase by some 350 million dollars with the purchase.
JBS employs about 185,000 people at 300 processing plants in 22 countries, making it the world's largest food processing company by scale.
