Business news in brief
This article was published today at 2:04 a.m
State pork units part of $1.45B JBS sale
JBS USA Pork has agreed to purchase Cargill's U.S.-based pork business for $1.45 billion, an acquisition that includes a feed mill and two hog farms in Arkansas.
Martin Dooley, president and chief operating officer of JBS USA Pork, called the acquisition a "strategic investment in the long-term growth" of the company's global pork business.
"This transaction will strengthen our position as a producer and supplier of all major animal proteins around the world, and provide increased opportunities for our producer partners and key customers," Dooley said in a statement.
The purchase includes two Midwest meat-processing plants, acquired by Cargill in 1987 and 2014, that process 9.3 million hogs. Five feed mills and four hog farms -- including the Arkansas locations -- are part of the agreement, which remains subject to regulatory review and approval.
A JBS USA spokesman said in an email that the Arkansas feed mill is located in London, while the hog farms are in Morrilton and Umpire. The spokesman declined further comment on the acquisition.
A Cargill spokesman said the three locations, along with the company's business and administrative offices in Russellville, employ about 130 people.
JBS USA is an indirect, wholly owned subsidiary of Brazilian-based JBS SA, which also is the majority owner of Pilgrim's Pride. Springdale-based Tyson Foods Inc. agreed to sell its poultry operations in Mexico and Brazil to JBS SA for $575 million last year.
-- Robbie Neiswanger