JBS SA is making strides to grow its presence in the Middle East’s food processing sector. The company has reportedly submitted a non-binding offer to acquire Alwatania, the largest poultry processor in Saudi Arabia, according to a Bloomberg report. Alwatania, which processes over 1 million birds and 1.5 million eggs daily, is believed to be valued at approximately $500 million.
In addition to JBS, Tanmiah Food Co., a Saudi-based company, has also placed a bid for Alwatania, intensifying the competition for the acquisition.
This move follows a series of recent high-profile investments by JBS, including a $200-million expansion of its beef processing facilities in Cactus, Texas, and Greeley, Colorado, announced in February. Furthermore, in November, JBS unveiled plans for a substantial $2.5-billion expansion of its red meat and poultry operations in Nigeria.
JBS is also pursuing an initial public offering (IPO) on the New York Stock Exchange, despite facing opposition from various groups, including members of the European Parliament.
