News

ACCC looks at world’s biggest meat processor move on Primo

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

THE proposed purchase of the Primo Group by the world's largest fresh meats processor, Brazilian giant JBS, will be examined by the Australian Competition and Consumer Commission.

The examination comes after the Cattle Council of Australia asked the ACCC to look into possible competition issues surrounding the planned purchase.

The proposed $1.5 billion deal has led to concerns among some sections of the primary industry that it would narrow the number of buyers within the Australian market.

The ABC reported that the ACCC wanted anyone wishing to contribute a comment on the deal to get their submission to it by December 17, with a decision by January.

Beef industry analyst Robert Hermann, a director with Mecardo, said he would expect the competition watchdog to scrutinise the deal carefully.

"Any reduction in competition takes away from what we are looking for in a market where supply is a bit tight and we'd like to see people paying a fair price," Mr Hermann said. JBS Australia chief executive Brent Eastwood said there was no cause for concern.

Despite the assurance, Mr Hermann said history would indicate otherwise.

"Any rational assessment of this move would see that.

"Over time we've seen it in other industries, the wool industry, you see it in the grain industry. For instance, when businesses combine or get taken over or merge, they maintain their profile for a short period of time, but eventually the rationalisation says why wouldn't you look at a more efficient way of doing it, and that's the concern.

"You've got to make sure that it doesn't become ... the gorilla in the room that beats everyone up."

Topics:  accc business jbs australia



Body found during search for missing fisherman

SES and Police search for a missing person at Wivenhoe Dam.

A 38-year-old man went missing while swimming last Sunday

Lightning lands at Amberley

TOUCHDOWN: The first of the RAAF's F-35A Lightning II Joint Strike fighters landed at Amberley on Monday.

5th gen fighter arrives

Father fights for recognition for Grantham flood victim wife

Gary Jibson (previously Danny McGuire) is fighting to have his late wife recognised as a rural fire fighter.

Llync-Chiann Clarke-Jibson and children swept to their death in 2011

Local Partners

'I wasn't naked': Blanca Blanco speaks out

BLANCA Blanco made headlines around the world after 'accidentally' flashing, but she says she was actually wearing a nude bodysuit.

‘IT’S A LITTLE SAD’: Trump makes Oscars bungle all about him

US President Donald Trump claims Hollywood's elite were too busy mocking him to pay attention on Oscars night.

Donald Trump ‘explains’ Oscars stuff up.

Lama and Sarah’s ‘epic’ MKR fail

My Kitchen Rules contestants Lama and Sarah.

Tempers flare as Lebanese feast turns into an epic fail.

Oscars 2017: How did biggest award get stuffed up?

Presenter Warren Beatty shows the envelope with the actual winner for best picture as host Jimmy Kimmel, left, looks on at the Oscars on Sunday, Feb. 26, 2017, at the Dolby Theatre in Los Angeles. The winner was originally announced as La La Land, but was later corrected to Moonlight.

'Guys in headsets starting buzzing around. They took the envelope.'

Lisa Curry can't marry her fiance

Lisa Curry breaks down in the jungle.

Lisa Curry says she can’t get married to her fiance

The true cause of the Oscars bungle

Faye Dunaway, left, and Warren Beatty present the award for best picture at the Oscars on Sunday, Feb. 26, 2017, at the Dolby Theatre in Los Angeles.

The Oscars ended with a moment that left everyone speechless.

HUGE OSCARS FAIL: Wrong film handed Best Picture award

Presenter Warren Beatty shows the envelope with the actual winner for best picture as host Jimmy Kimmel, left, looks on at the Oscars on Sunday, Feb. 26, 2017, at the Dolby Theatre in Los Angeles. The winner was originally announced as La La Land, but was later corrected to Moonlight.

IN A monumental stuff-up, La La Land incorrectly named Best Picture.

Pahlke votes against "sardine city" small blocks

BOLD: Cr David Pahlke followed through on his opposition to smaller block sizes in the general council meeting.

David takes stand in council against State's housing density move

Casino boss loses $4m on waterfront Sunshine Coast home

The owner of this stunning Noosa home accepted much less than he had initially wanted for the home.

When illness struck owner forced to try and cash out of property

Mining homes dive: $600k homes sell for $120k-$300k

18 Yeates Street, Moranbah sold for $135,000 in December, after being repossessed by a bank. The owners bought for $545,000 in August, 2011.

The economy still has two speeds, but with a painful twist

Mackay's property market climbing like a Rocket Man

Renewed confidence in Mackay means more homes are being snapped up by those eager to plant their roots in the region.

There's movement in the real estate sector and it's all positive.

'Why we drove 800km to buy a treehouse with a disco ball'

The new owners have planned a few updates, but will stick with much of the original design.

A couple travelled almost 800km for the home of their dreams.

Ready to SELL your property?

Post Your Ad Here!