04.09.2009

JBS SA, the world’s largest beef producer, may buy bankrupt poultry company Pilgrim’s Pride Corp. in the U.S. as early as next week to resume its global expansion. JBS will tap about $1.2 billion of cash and $500 million of revolving credit lines to buy Pittsburg. 
Chief Executive Officer Joesley Mendonca Batista turned JBS into the top meatpacker, processing about 10 percent of the world’s red meat, after buying Swift & Co. in 2007 and two Smithfield Foods Inc. units last year.
The purchase of Pilgrim’s Pride may be valued at $2.5 billion, the Wall Street Journal reported on its Web site Sept. 2.