Business

JBS to take over ham, bacon, smallgoods company Primo Group

The Primo smallgoods factory at Wacol and adjoining Hans Factory outlet will be taken over by JBS.
The Primo smallgoods factory at Wacol and adjoining Hans Factory outlet will be taken over by JBS. Sarah Harvey

ONE of Ipswich's biggest employers will increase its footprint across the globe following their acquisition of the country's largest smallgoods producer.

JBS, which employs 2000 people at its Dinmore meatworks, has signed a $1.45 billion conditional agreement to take over ham, bacon and smallgoods company Primo Group, which also owns the Hans and Beehive brands.

The purchase is a strategic one by JBS, which not only wants to tap into the smallgoods market, but also use its global distribution network to get those products into new parts of the world.

JBS CEO Wesley Batista said there had been strong annual growth in the consumption of processed meat, meaning there was great potential to expand.

"There is a great opportunity for JBS to invest in the ongoing growth of this business, both domestically in Australia and New Zealand, and through expanding the sales of Primo Group products into offshore markets," Mr Batista said.

Primo Group operates five processing plants in Australia and New Zealand, including the $200 million facility at Wacol, opened in 2012, which employs 1000 people.

Primo CEO Paul Hitchcock said it would be "business as usual" from now on and the sale would not affect current employees, suppliers and customers.

"JBS will open doors in terms of growing the export side of the business," he said.

The sale signals the end of an era for Primo, which was still part-owned by the founder Paul Lederer and his family, up until JBS came along.

Affinity Equity Partners acquired just over 70% of Primo in 2011.

The sale to JBS is subject to customary regulatory approvals.

Topics:  business




Springfield rue final defeat

Springfield Hawks rugby union Barber Cup coach Jeremy Clark, club president Dee Clark and Pegg Cup coach Tony Kiri.

Hawks fall just short of title double

Gallant Knights second in league after testing week

Ipswich Knights under-16 BPL captain Matthew Drummond (number seven) finished the season as second highest goal scorer.

Ipswich team eyes 'instant' revenge

Jo-Ann Miller speech leaves ALP faithful stunned

STILL STRONG: Member for Bundamba Jo-Ann Miller MP at her Goodna office.

MP sticks to her guns at closed Labor conference

Latest deals and offers

What's on the small screen this week

Bella Frizza in a scene from the TV series Married At First Sight.

THE Block's $65,000 bathroom is revealed and strangers marry.

MOVIE REVIEW: Life on the Road

Ricky Gervais, Ben Bailey Smith and Foregone Conclusion (Steve Clarke, Andy Burrows, Stuart Baxter Wilkinson, Michael Clarke) in a scene from David Brent: Life on the Road.

Ricky Gervais has brought David Brent back to life on the big screen

Jessica Alba wants tequila shots served at her funeral

Businesswoman and actor Jessica Alba

There won't be mourning at this funeral

Tom Hiddleston's Instagram account hacked

Actor Tom Hiddleston

Thor star the latest celebrity targetted by hackers

Charlize Theron's son dresses up as Frozen character

Actor Charlize Theron

Star's son spotted dressed a beloved Frozen character

REVEALED: Pat Rafter's $18m Coast house on the market

Check out the photos of the Coast's most expensive property for sale

The "correction we had to have" in Gladstone's rentals

UPWARD MARCH: The rental vacancy rate in Gladstone has improved for the first time in more than a year, providing a confidence boost in the market.

Vacancy rates improve with signs that things are getting betterF

ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Suna Island in the Great Sandy Strait will be auctioned by Ray White Hervey Bay on Saturday morning.

This is the cheapest island you will find for sale in Australia

How a family home can fit on a 250sq m block

This is what you can build on 250m2.

Here's the floor plan of a home built on 250sq m

$100m plan for Curtis Island 'world class' luxury resort

$100 million resort: Top views at Turtle Street at Curtis Island.

"At the moment we think it meets all the town planning approvals.”

Noosa mayor on "red alert" over planning court decision

Mayor Tony Wellington hands down his first budget.

Mayor upset at lack of say about look and feel of Noosa