GREELEY, Colo., June 20, 2017 (GLOBE NEWSWIRE) — Today, the JBS S.A. Board of Directors reviewed and approved a proposal to commence a divestiture process for certain assets. The divestment program is intended to further sharpen the focus of the business on key strategic areas, protect core assets and allow the Company to reduce net debt as it works on plans for future growth.
Following a careful assessment, the Company has decided to proceed with the sale of JBS Five Rivers Cattle Feeding assets.
Selling these assets is central to a strategy designed to reinforce JBS’ competitive advantage in the global food industry. The sale of feed yard assets will more closely align the JBS business model with key U.S. competitors and allow the Company to concentrate its efforts on its core food and value-added products businesses.
An orderly sales process will be conducted to ensure business continuity. JBS Five Rivers will continue to operate as usual, including the purchasing of cattle and commodities in the ordinary course of business, until the closure of a transaction. In addition, JBS USA intends to continue agreements to purchase cattle from feedlots associated with Five Rivers Cattle Feeding operations.
CONTACT: Contact: Cameron Bruett, JBS Corporate Affairs 970-506-7801