JBS sale poultry giant Moy Park
JBS bought Moy Park just two years ago in 2015 but has now been put up for sale, as concerns mounted over funding options in the wake of Brazil's political corruption scandal. Moy Park, one of Europe's biggest poultry producers, employs more than 9,000 people in Northern Ireland and was bought by JBS in 2015 for 1.5bn USD, which was Northern Ireland's biggest food deal ever.
Moy Park was one of the assets JBS named for its divestment programme which was released on Tuesday. Together with the Brazilian meatpacker's stake in US-based Five Rivers Cattle Feeding assets and farms and Brazilian firm Vigor Alimentos. Moy Park is only the top of the 300m USD subsidiary sales that JBS announced earlier this month.
Moy Park said about the sale, that its priority is "business as usual" and with focus on meeting consumer demand in the UK, Ireland and mainland Europe.