The U.S. subsidiary of a Brazilian-based international meat processor is buying the pork division of Cargill Inc.
JBS USA, a division of Sao Paulo, Brazil-based JBS, and Cargill said Wednesday they have signed an agreement for the $1.45 billion transaction.
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JBS USA Pork Chief Operating Officer Martin Dooley says it's a strategic investment in the long-term growth of the company's U.S. pork business.
The deal includes Cargill processing plants in Ottumwa, Iowa, and Beardstown, Illinois. The two plants processed 9.3 million hogs last year.
Feed mills in Arkansas, Iowa, Missouri, and Texas are included, along with hog farms in Arkansas, Oklahoma and Texas.
JBS entered the U.S. pork market in 2007 when it bought Swift & Co. It sells products under the Swift and Swift Premium brand names.