JBS S.A. is a Brazilian company that is the largest meat processing company (by sales) in the world, producing processed beef, chicken and pork factories, and also sells by-products from this meat processing. It's headquartered in Sao Paulo. Founded in 1953 at AnÃÆ'¡polis, Goias. The company has 150 industrial plants worldwide. A & amp; F Investimentos is 42% indirect shareholder in JBS S.A.J & amp; F Investimentos is wholly owned by Joesley Batista and Wesley Batista. In May 2017, JBS S.A. remains the largest meat producer in the world.
Video JBS S.A.
Histori
1953-2000: Formasi di Brasil
JBS was originally founded as a slaughtering business by breeder Jose Batista Sobrinho, a rancher in AnÃÆ'¡polis, Brazil, in 1953. (The name of the company comes from the founder's founder.) Sobrinho's business began to flourish when the formation of Brazil's capital, Brasilia, brought a new market in range of farms. During the late 1960s Sobrinho developed into a slaughterhouse owner; then, in the 1980s, the company began to flourish in Brazil and buy other meat processing companies. In the following years, the company has grown to become the world's largest company in the beef sector with the acquisition of several shops and food companies in Brazil and the world.
2001-2010: Acquisition and growth
JBS became a public company in 2007, and in the same year received a large investment from BNDES (Brazilian Development Bank). In 2007, JBS acquired US $ 225 million for Swift & amp; The company, which is the third largest US pork and pork processor, was renamed JBS USA. It leads the world in slaughtering capacity, with 51,4 thousand heads per day, and continues to focus on the production, processing and export operations of plants, nationally and internationally. With a new acquisition, JBS entered the pig market, ending this year as the third largest producer and processor of this type of meat in the United States. This acquisition expands the company's portfolio to include the rights to use of Swift brands worldwide.
The following year, JBS acquired Smithfield Foods' meat business. It was renamed to JBS Packerland. On September 16, 2009, JBS announced it had acquired the Grupo Bertin food operations, one of three Brazilian market leaders, consolidating its position as the world's largest beef producer. The banks of JP Morgan Chase and Santander Brazil assist in the transaction. On the same day it was announced that the company had acquired 64% of Pilgrim's Pride for a bid of US $ 800 million, establishing JBS's position in the chicken production industry, but currently the company owns 75.3% of Pilgrim's Pride. In August 2010, it was reported that JBS is considering selling some of the eight slaughterhouses owned in Argentina because of "rare cattle and export restrictions". Between 2007 and 2010, JBS received approximately $ 2.5 billion in investments from BNDES.
2011-2015: IPO and acquisition plan
In 2011, JBS has been trying to bid to take over the Sara Lee Corporation's meat business. JBS has shown an interest in the meat business but is struggling to push ahead with an offer for the entire company. On May 27, 2014, the Pilgrim Pride Company, 75% owned by JBS S.A., made an unsolicited $ 5.6 billion bid for Hillshire Brands Co. (HSH). On July 28, 2014, Tyson Foods, Inc. announced its intention to sell Tyson de MÃÆ'Ã… © xico and Tyson do Brasil, a subsidiary of Mexican and Brazilian poultry, to JBS SA for $ 575 million in cash by the end of 2014, awaiting regulatory approval. In 2015, JBS buys US pork business Cargill Inc. with $ 1.45 billion. Also in 2015, JBS S.A. making the board of directors of compliance in Brazil. In December 2016, JBS announced a reorganization plan, involving an initial public offering (IPO) in the United States for its international operations, through JBS Foods International. At that time, it has units on five continents.
2017: The decline of the Brazilian food market
According to industry estimates, JBS USA is the second largest processor of beef and pork in the United States, while JBS owned by Pilgrim's is the second largest poultry company. In February 2017, JBS was accused of wrongdoing in a broader investigation into compliance issues in Brazil, although it was planned to increase the board of directors of compliance from three to eight. At that time, the controlling shareholder of the J & amp; F Investimentos SA is under investigation "in relation to fraud on government employees' corporate pension funds". Investigations see whether JBS might benefit from the scheme, including JBS chairman Joesley Batista, who denied wrongdoing. In March 2017, JBS SA remained the world's largest supplier of animal protein, following a series of acquisitions partly funded by loans from banks controlled by the Brazilian state. Global operations include the Seara, Swift, and Moy Park brands. In March 2017, JBS was accused by Brazilian environmental regulators to buy cattle raised on illegally deforested Amazon land, with JBS denying any wrongdoing.
On March 17, 2017, it was announced that Brazil was investigating its meat packing industry for "allegedly bribing the inspector of food inspectors", with JBS SA among dozens of targeted companies, in particular one employee. JBS shares fell 10 percent with the announcement. JBS denied any wrongdoing and said it had taken "applicable measures" against one employee who was included in the investigation, due to alleged links to government inspectors. The announcement of police allegations has caused various countries to consider banning imports of Brazilian beef. China, 20 other countries, and the EU then issued a temporary ban on the delivery of Brazilian meat, or increased supervision. On March 23, 2017, JBS SA said it had slashed beef production, halting beef production in 33 of 36 factories for three days, with plans to cut production by 35% of capacity in all its units. JBS states "measures aimed at adjusting production until there is a decision on an embargo imposed by the importer." Companies also spend more on advertising. After the initial trade disruption, Brazilian meat companies regained access to most of the international markets.
2017: BNDES and bribery investigation
On May 12, 2017, authorities announced that they are investigating whether JBS SA has received an illegal financing benefit from state-owned bank BNDES. Nicknamed "Operation Bullish", police claimed that this had caused the loss of approximately $ 385 million in public funds. JBS says the financing for the unit is valid, and BNDES says it is working with the authorities. Executives including CEO Wesley Batista and chairman Joesley Batista were interrogated by federal police. The court banned Batista to restructure the business during the investigation. On May 16, 2017 JBS said it may postpone its IPO plan due to legal issues. The CEO insists that the IPO is not canceled.
On May 17, O Globo reported that they had obtained a Temer recording that prompted JBS chairman Joesley Batista to "bribe imprisoned former legislators to buy lawmakers silence." The news produced protests and calls for Temer's resignation, and the Brazilian stock market fell. Temer denied any wrongdoing. On May 17, 2017 O Globo reported that Joesley Batista, via J & amp; F Investimentos, allegedly paid bribes to three presidents. The payment documentation was released by the Supreme Court on May 19th. On May 19, 2017, Joesley Batista admitted to paying bribes to Michel Temer, Dilma Rousseff and Luiz InÃÆ'¡cio Lula da Silva, for the previous 14 years. Joesley Batista told the prosecutor J & amp; F Investimentos has paid a total of $ 123 million in bribes to Brazilian politicians in recent years. The three presidents refused to accept bribes. Temer suspected Batista had the evidence processed, including the recording of Temer talking to Batista, to make money from the scandal through insider trading. Batista denied the purchase of illegal shares. On May 22, ComissÃÆ'Â o de Valores MobiliÃÆ'¡rios (CVM) demanded $ 3.4 billion from J & amp; F Investimentos as part of a promised defense agreement, according to the press. The former head of CVM refers to a testimony that confirms J & amp; F Investimentos has bribed 1,829 politicians. In May 2017 JBS arrested Baker McKenzie law firm to negotiate possible criminal allegations with the US Department of Justice under the Foreign Corrupt Practices Act.
Report of May 31, 2017, says J & amp; F Investimentos has agreed to pay a fine of US $ 3.2 billion, for leeway from the Brazilian government, to "more than 25 years after admitting giving about $ 150 million - mostly in bribes - to Brazilian politicians." JBS shares subsequently rose 9% on the SÃÆ'Â £ o Paulo stock exchange. In exchange for their cooperation, the chairman and his brother avoid jail terms. The three former presidents continue to refuse to accept bribes from Joesley Batista..
2017: Employee and company sales
In early August 2017, JBS hired Alfred Almanza as head of global food security. Almanza was previously the head of food security at the US Department of Agriculture. On 3 August 2017, it was reported that JBS sold its stake in Vigor Alimentos to Grupo Lala.
Maps JBS S.A.
Plants and subsidiaries
The production structure of JBS is embedded in the worldwide consumer market, with installations installed in four of the world's leading beef producing countries (Brazil, Argentina, USA, and Australia) serving 110 countries through exports.
Board of directors
Board members, all appointed or re-appointed on 28 April 2017, including:
- Joesley Batista
- Wesley Batista
- JosÃÆ' Â © Batista Sobrinho
- Humberto Junqueira de Farias
- Mohamed Mohamed Noshy Nasr Mohamed Farahat
- Claudia Silva Araujo de Azeredo Santos
- MaurÃÆ'cio LuÃÆ's Luchetti
- SÃÆ' Â © rgio Roberto Waldrich
- Norberto Fatio
See also
- BNDES
- Michel Temer
- Car Wash Operation
References
External links
- Official Company Sites (in Portuguese) (in Spanish) (in English)
- Official Sites Bertin (in Portuguese)
- About the merger of Pilgrim's Pride and Grupo Bertin, in Portuguese.
- Swift & amp; Company Website
- Pride Corp's corporate website. Pilgrim
- Pilgrim's Pride Pierce Chicken website
- Company website of PFS Distribution
- Gold Kist website
- News source from March 2017
Source of the article : Wikipedia
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