JBS USA said Monday it’s reached an agreement to buy Danish Crown A/S’s U.S.-based bacon, ham and deli meat business, called Plumrose USA, for $230 million.
The deal is expected to close during the second quarter, pending a regulatory review and approval, and customary closing conditions, Greeley-based JBS USA said in an announcement.
Plumrose USA, based in Downers Grove, Illinois, started as a sliced ham company in 1932 and has grown since then to provide meat products, including premium bacons, packaged deli meats, deli counter hams, cooked ribs and canned hams, across the United States.
Plumrose USA’s annual net revenues are estimated at $500 million, JBS said.
The deal is part of JBS USA’s plan to grow by acquisition to diversify the products it offers and expand its branded offerings, said Andre Nogueira, CEO of JBS USA Food Co.
Read more in the Denver Business Journal: http://bit.ly/2lXiXHw