Today I have approved the proposal by JBS USA Holdings Inc (JBS), through its wholly-owned subsidiary, JBS Smallgoods HoldCo Australia Pty Ltd, to acquire Australian Consolidated Food Holdings Pty Ltd (Primo), subject to a number of important conditions in relation to services currently provided by Primo at its abattoir located in Scone, New South Wales.
As part of the proposal, JBS has agreed to:
- continue to maintain the custom service killings currently provided by Primo at its processing plant in Scone, New South Wales. (Custom service killing refers to arrangements between the abattoir and third parties whereby the abattoir provides processing services to a third party for cattle acquired by that third party.)
- continue to maintain the custom service killings in good faith and to the best of its endeavours in both a competitive and profitable manner; and
- provide reports to the Foreign Investment Review Board (FIRB) on its compliance with the above condition every six months, until otherwise advised by FIRB.
The conditions will be reviewed in three years.
JBS is the United-States based subsidiary of the Brazilian company JBS S.A., the world’s largest processor of fresh beef and pork. Primo is Australia’s largest producer of ham, bacon and smallgoods.
The Government welcomes foreign investment in Australia and continues to ensure that investments are consistent with Australia’s national interest.