JBS’ $425 MIllion Acquisition of Huon Aquaculture

MinterEllison have advised JBS S.A. on the acquisition of Huon Aquaculture Group Limited by way of a scheme of arrangement.

Brazilian meat-processing giant JBS S.A (BVMF:JBSS3) has acquired taken the keys to the Tasmanian salmon farming company Huon Aquaculture (ASX:HUO) business after a $425 million takeover. 

The transaction was implemented on 17 November 2021. This followed JBS and Huon’s entry into a binding scheme implementation deed on 6 August 2021. This was after Huon’s strategic review and subsequent competitive bid process in which JBS was named preferred bidder.

Headquartered in Sao Paulo, JBS S.A. is a leading global food company. JBS Australia is Australia’s largest meat and food processing company, with a diversified product portfolio including fresh and frozen meats. It exports its products to more than 50 countries.

Huon was an ASX-listed aquaculture business, with production and processing facilities for Huon salmon and Huon ocean trout. Founded in 1986, it is now one of the largest salmon producers in Tasmania.

The MinterEllison team was led by Michael Scarf (Picture, Partner), with support from Ron Forster (Partner).

Involved fees earner: Ron Forster – MinterEllison; Michael Scarf – MinterEllison;

Law Firms: MinterEllison;

Clients: JBS S.A.;

Sonia Carcano

Author: Sonia Carcano