Recent Updates — JBS
On September 15, 2026, JBS N.V.’s wholly-owned Brazilian subsidiary, JBS S.A., entered into a definitive association agreement with Viva Holding Ltda. to combine their leather production and processing assets into a new joint venture named JBS Viva. The transaction will result in equal 50% ownership by JBS S.A. and Viva Holding, with parity governance featuring three board members appointed by each party. JBS S.A. will contribute its leather division assets via JBS Couros, while Viva contributes its leather operations and chemical manufacturing assets. Excluded from the deal are collagen activities, specific international plants, and non-leather assets. The parties also agreed to supply raw hides and trimmings to one another post-closing. Completion is subject to customary conditions precedent. JBS N.V. operates in the global food processing industry, primarily as a major meat producer.
JBS N.V. submitted a non-binding proposal to acquire the remaining publicly traded shares of Pilgrim’s Pride Corporation (PPC) not already owned by JBS or its affiliates. JBS currently holds approximately 82% of PPC and proposes an exchange ratio of 2.086 JBS Class A common shares for each PPC share, based on closing prices of $13.66 and $28.49 respectively on August 18, 2026. The transaction requires approval by a special committee of independent PPC directors and a majority vote of unaffiliated PPC shareholders. JBS believes the combination offers benefits including operational synergies and simplified capital allocation. This filing relates to a strategic acquisition proposal in the global protein and prepared foods industry.
JBS N.V. reported second quarter 2026 results showing net sales of $23.9 billion, up 14% year-over-year, but profitability declined significantly with adjusted EBITDA falling 18% to $1.43 billion and a net loss of $102 million compared to prior year income. The company announced a planned leadership transition effective January 2027: Wesley Batista Filho will succeed Gilberto Tomazoni as Global CEO, while Tomazoni steps down from the CEO role to become Vice Chairman and Senior Advisor after eight years leading the company. JBS operates in the global food processing industry, producing poultry, pork, beef, and other protein products.
JBS N.V. announced a strategic partnership with PT Danantara Investment Management (DIM), the investment arm of Indonesia’s sovereign wealth fund, to form a joint venture focused on protein production investments in Indonesia, Southeast Asia, Australia, and New Zealand. JBS will contribute 100% of its equity interest in its Australian and New Zealand businesses into the Joint Venture Company. DIM will subscribe for an initial 9.64% stake via an $800 million investment at completion, with up to $1.7 billion remaining to be invested over three years, totaling a $2.5 billion commitment. The venture expects to raise an additional $2.5 billion in external debt, bringing total capital to $5 billion. Governance includes a seven-member board with DIM holding significant protective rights. The transaction is subject to regulatory approvals and customary closing conditions.
JBS N.V., together with subsidiaries including JBS S.A., entered into a Sixth Amendment to its Credit Agreement and Restatement Agreement, amending the Revolving Syndicated Facility Agreement originally dated November 1, 2022. The amendment establishes a new senior unsecured revolving credit facility with an aggregate principal committed amount of up to US$2.65 billion, available in multiple currencies, maturing in 2031 with a two-year renewal option. This expansion increases the group's total availability under its revolving credit facilities by US$650 million, raising the total from US$3.5 billion to US$4.2 billion. The company states this reinforces its total liquidity and financial management capabilities. JBS N.V. operates in the global meat processing industry.