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JBS Completes TOLEDO Group Acquisition

15 July 2010

BELGIUM - JBS SA has completed the acquisition of the TOLEDO Group, including TOLEDO INTERNATIONAL nv, in Gent, Belgium for € 11 million.

TOLEDO Group specialises in researching, developing and trading in customised cooked and frozen beef products for a wide range of end users across Western Europe.

The company has a customer base of more than 100 ranging from food service, industrial kitchens to large food companies that use beef products as an ingredient in their finished products.

In 2009 the TOLEDO Group had net revenues in excess of $50 million.

The TOLEDO Group was founded by Clayton Toledo and Bob Stevens more than 20 years ago and has pioneered the development of these cooked beef products through partnerships at production level with South American Beef Companies.

Exports of this group of products out of South America has increased more than tenfold over the last two decades thanks large part to the pioneering work of Mr Toledo and Mr Stevens, JBS said.

"We are proud to have this opportunity to continue the sales growth of these cooked beef products with this strategic acquisition, enhancing our customer base as well as our value added portfolio," Joesley Batista said.

"It is with a focus on these specialized customers that we plan to continue adding value to our business, partnering with strong regular clients to the benefit of all our stakeholders," he added.

TheMeatSite News Desk

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