Latest news with #JBSNV
Bloomberg
01-08-2025
- Business
- Bloomberg
JBS's Batista Brothers Expand Into Steel With Usiminas Deal
The billionaire Batista brothers, who control meatpacking giant JBS NV, have expanded into Brazil's steel industry with the purchase of a minority stake in Usinas Siderurgicas de Minas Gerais SA. Investment firm Globe Investimentos SA on Thursday acquired a 5% interest in Usiminas, as the steelmaker is known. Wesley and Joesley Batista are the controlling shareholders of Globe, according to a person with direct knowledge of the matter. The brothers' investment was previously reported by local newspaper Valor Economico.
Bloomberg
29-07-2025
- Business
- Bloomberg
Trump's Tariffs Threaten Brazil Beef With $1 Billion Sales Loss
Brazilian beef exporters could face a $1 billion hit to sales in the second half of 2025 if US President Donald Trump moves forward Friday with a plan to impose 50% tariffs on the country's exports, according to industry group Abiec, which represents companies including JBS NV. The proposed levies would severely restrict the world's largest beef supplier from shipping to the US, with no alternative markets ready to absorb the displaced volumes, Abiec head Roberto Perosa said in an interview with Exame. Brazil had initially been expected to more than double exports to the US to about 400,000 metric tons this year, he said.
Bloomberg
24-07-2025
- Business
- Bloomberg
Pilgrim's to Spend $400 Million on New Plant for Prepared Food
Pilgrim's Pride Corp. will invest $400 million in a new facility in Georgia as the chicken producer seeks to continue its expansion in prepared foods. The Walker County-based facility will produce fully cooked chicken products and support growth for brands including Just Bare and Gold Kist, the JBS NV unit said in a statement. The project is expected to create 630 jobs once it reaches full capacity, with the first phase slated for completion in 2027.
Irish Independent
02-07-2025
- Business
- Irish Independent
US ranchers finally moving to increase cattle supplies, JBS says
©Bloomberg US ranchers are moving to expand their herds from a seven-decade low, paving the way for a long-awaited recovery in beef supplies, according to top producer JBS NV. "We are into herd rebuild right now," Wesley Batista Filho, chief executive officer of the Brazilian company's North American business, said in an interview. "The economic incentives are there, the weather is helping."
Mint
30-06-2025
- Business
- Mint
Meat Giant JBS Says Investor Demand for Its Bonds Undercuts ESG Concerns
(Bloomberg) -- JBS NV's New York listing was met with fierce opposition from activist groups and politicians over the meat producer's ESG record. Many investors, however, seem willing to look the other way. A $3.5 billion bond sale earlier this week drew demand totaling five times the offering, slashing borrowing costs and providing strong evidence of investors' confidence in JBS, Chief Financial Officer Guilherme Cavalcanti said Wednesday during a conference with journalists in New York. 'The main funds were all there, eager to be allocated,' Cavalcanti said, after being asked how criticism of the company impacted investor perception. The issuance was well oversubscribed less than three hours after launch, he added, without naming any of the buyers. The deal's success suggests investors are inclined to look past activists' criticism over issues such as the past scandals involving the brothers who control JBS and the company's alleged role in deforestation, placing more emphasis on the company's ability to grow and keep its finances under control. JBS has taken steps to boost its environmental, social and governance credentials. The company has done 'transformative' work to slash cattle ranching-related deforestation in the Amazon region, Chief Executive Officer Gilberto Tomazoni said during the same conference. And it has now a 'very robust' compliance program in place, Cavalcanti said in a Bloomberg TV interview. The company said in a statement that investors have repeatedly demonstrated confidence in JBS's actions to mitigate risks in areas such as governance and the environment 'thanks to the robust programs JBS has implemented.' The bond sale was the first since the meat producer listed its shares on the New York Stock Exchange earlier this month in a move aimed at attracting a broader pool of investors and reducing capital costs. Bondholders demanded a premium of 1.25 percentage points over Treasuries for its $1.25 billion in 10-year bonds — a record low for JBS offerings with similar maturities, and comparable to the levels required from high-grade US issuers such as Energy Transfer LP and NextEra Energy Inc. Borrowers rushed to tap debt markets this week amid improved risk sentiment. Mexico, Chile and Latam Airlines Group SA are among those who came out with bond issuances this week. JBS said earnings before items such as interest and taxes have potential to grow at an annual rate of as much as 7% over the next five years as the company seeks to expand into branded, value-added food products. Sales are projected by analysts at a record $82.5 billion this year. The stock is headed for a 10% gain this week, the most among main peers. To be sure, JBS still faces scrutiny from activist groups. Earlier this month, Greenpeace International Program Director Carmen Gravatt said the organization will do its part to make sure that JBS — which relocated its corporate address to the Netherlands — operates within Dutch law. The non-profit also urged investors not to invest in the company. (Updates with company statement in sixth paragraph, and share move in 11th paragraph.) More stories like this are available on ©2025 Bloomberg L.P.
