JBS Foods Australia, the local subsidiary of the world’s largest meat processing company, has sold a 25 per cent stake in its business to Danantara Indonesia, an investment arm of Indonesia’s sovereign wealth fund.
The transaction is reportedly worth $3.57 billion and will see a partnership formed between the two over the operation of JBS Australia and New Zealand. The joint venture is also maintaining capacity for a further $3.5 billion in investments into operations across Indonesia, Southeast Asia, Australia and New Zealand.
“Our partnership with Danantara Indonesia marks an important step in our long-term growth strategy in Southeast Asia,” said Gilberto Tomazoni, global CEO of JBS.
“As a cornerstone of the broader JBS global platform, our Australia and New Zealand footprint provides strong operations, world-class standards, and significant growth potential.”
Tomazoni said the partnership with Danantara will allow JBS to expand across Southeast Asia, while strengthening regional protein supply chains to develop Indonesia’s protein sector.
“This strategic partnership reflects Danantara Indonesia’s commitment to building collaborations with global partners that are aligned with our investment mandate,” added Pandu Patria Sjahrir, chief investment officer of Danantara.
“Beyond providing access to an established business ecosystem in a developed international market, the partnership is expected to leverage JBS’s experience and distribution channels from a distinguished global protein company that may contribute to the long-term development of Indonesia’s protein sector.”
