JBS S.A. completes acquisition of Belgian processor
July 16, 2010
JBS S.A. has completed the purchase of a Belgian beef processor.
Meatingplace.com said JBS S.A., the parent company of Greeley-based JBS USA, has broadened its footprint in Western Europe with the $14 million purchase of Gent, Belgium-based Toledo Group. The group specializes in customized cooked and frozen beef products.
Toledo has more than 100 customers spanning food service, industrial kitchens and large food companies that use its products as ingredients in their finished products.
“We are proud to have this opportunity to continue the sales growth of these cooked beef products with this strategic acquisition, enhancing our customer base as well as our value added portfolio,” JBS S.A. President Joesley Batista said in a news release.
Toldeo was founded by Clayton Toledo and Bob Stevens more than 20 years ago. The company has developed its brand of cooked beef products through partnerships at the production level with South American beef companies. Exports of such products out of South America have jumped more than tenfold over the past two years due in large part to the work of Toledo and Stevens, JBS said.
The Toledo Group had revenues of $50 million in 2009.