The Australian Competition & Consumer Commission cleared Thursday the acquisition by JBS S.A. of the Tasman Group, and JBS said the acquisition will be completed next week on May 2. Tasman, a beef cattle and lamb processor, will be combined with JBS Australia, the Australian beef division of JBS Swift Group in the U.S., according to JBS director of finance and investor relations Sergio Longo.
Tasman, with locations in Tasmania and Victoria, is one of the three acquisitions that JBS is making to complete its Australian-North America beef platform. The other two are National beef packing Co. and the beef division of Smithfield Foods Inc. in the U.S. The U.S. Department of Justice is not expected to end its antitrust review until late this year.
JBS, headquartered in Sao Paulo, Brazil, is the largest beef processor and beef exporter in the world.