LatinNews Daily - 29 August 2019

* Brazilian meatpacking giant JBS has announced that one of its controlled US subsidiaries, Pilgrim’s Pride Corporation, has signed a contract to acquire British pork and prepared foods supplier Tulip Company. Tulip has been valued at £290m (US$354m). According to JBS’s note to its shareholders, the transaction seeks to create a leader in protein and prepared foods in Europe by expanding Pilgrim’s prepared foods portfolio to 21% of its global sales. Pilgrim’s acquisition of Tulip is considered positive for JBS in the context of increased demand for pork from China. 

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