Brazil’s JBS Agrees to Buy Rockdale Beef in Australia
March 19, 2010,

(Adds share price in first and fourth paragraphs.)

By Lucia Kassai

March 19 (Bloomberg) -- JBS SA, the world’s biggest beef producer, said it agreed to buy Rockdale Beef Pty Ltd. in Australia, without disclosing how much it would pay. Shares slumped the most in six months.

The takeover still depends on approval by Australian antitrust regulators and Rockdale’s management board, Sao Paulo- based JBS said today in a filing to Brazil’s securities regulator. Japan’s Itoham Foods Inc. and Mitsubishi Corp. control Rockdale, according to the beef producer’s Web site.

JBS controls more than 10 percent of global beef processing after about 30 acquisitions in the past 15 years, including Smithfield Foods Inc.’s beef business in the beginning of 2008. It resumed purchases at the end of last year after the global credit crunch reduced the value of assets, buying Pittsburg, Texas-based Pilgrim’s Pride Corp., Brazil’s Bertin SA and Australian lamb producer Tatiara Meat Co.

JBS slumped 4.1 percent to 7.89 reais at 12:40 p.m. in Sao Paulo trading. Earlier, it fell as much as 4.5 percent, the biggest intraday decline since Sept. 14.

Yanco, Australia-based Rockdale operates a cattle feedlot, a feed plant and a meat slaughter house with capacity to process about 200,000 head a year, JBS said.

JBS, which had plans to sell shares of its U.S. unit in an initial public offering, said Jan. 28 it delayed the sale after market conditions “deteriorated.” It filed March 11 a request to sell an undisclosed number of new shares in Brazil.

Rothschild is assisting in the transaction, JBS said. Vanessa Esteves, a spokeswoman for JBS, declined to comment on the deal.

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you bet! and seeing rothschild in it didnt cheer me up either.
this is the Exact!! same way the big Families got richer and more powerful, in the 30's depression.

Its a bank created crash, then they move in and take whatever they want, at their prices, and they get bigger and bigger.

I was reading some idiot report on NYTimes, waffling at how No Bankers had had to declare personal Bankruptcy..as if that? was good?

Those pack of Bast*rds, manage to profit, get taxpayer assisted bailouts while knowingly doing dodgy trades/derivatives, and they lose nothing, not even a job.
yet they have Created this mess, ruined millions, homeless, suicides family destruction the lot.

And we! are now the Target for their greed. I am disgusted.
If our Govt allows it and being KRUDDS M O I bet he thinks its dandy, well Poor fella my country!

heres a thought, whats the Rothschilds interest in the JBS mob? I bet its hidden, but Huge.
I don't worry too much Dale. There have been lots of companies try to corner the market on food, and own everything in site. This strategy always fails. One can't corner the market on food production, and companies that try always end up going broke at some point. The only way to be successful in food production is to do it very efficiently, and work very hard. You don't have to be big and you don't have to be small, you just have to be very good and persistent.

JBS isn't acting like some have and trying to dominate things just to dominate. They are merely buying distressed busnesses cheap and funding them back up. Some dislike this but I think it is essential that we have companies willing to do that otherwise the distress would get worse.

Rockdale was a good company but had this strange infatuation with telling everyone that my rations were bad and theirs were better. Go figure.
G'day Mat, what is your view on JBS's Australian CEO Mr.Ian Marrs being on the MLA Board?. Do you see any likelihood for conflicts of interest? Regards Lee Mc Nicholl
Matt
You are being just a bit too laid back.
JB Swift is not just any old food processor but the largest in the world operating on five continents with Brazilian Govt. money.
General Manager of Rockdale Paul Troja is also on the board of MLA with Iain Mars of JB Swift.
Paul Troja made some pertinent comments about the ETS to Agmates 24/9/09 and gave a good idea of the costs to meat processors which were going to be passed back to producers.
http://www.agmates.com/blog/tag/paul-troja/
Yes,
Paul is the one that told the MLA board that all of my problems with out of control bureaucrats were because of my rations and if he balanced my rations I would have no problem. This without any idea the situation here, or talking to me or my nutritionist about my rations.

I appreciate the effort Paul made on the ETS, and am still very disappointed in our peak industry body ALFA with regards to ETS. The statements Paul made at his own risk regarding ETS, should have been made by ALFA at the time they were needed, not after the war had been won.

I have a couple of Japanese friends that worked for Rockdale and I think Rockdale has accoplished a lot. I do not think that both Paul and Iain should be on the board of MLA, if a takeover occurs.

MLA has always funded itself in the main by producer funded levies and used those levies to create silly devices for Abattoirs to steal from producers. Abattoirs have always been way over represented on MLA as far as I am concerned.

Also, I think producers need to get together and force a more independent, anonymous, and verifyable method of collecting and counting votes regarding MLA levies.
Matt I cannot believe you are coming out with this now .You have the absolute audacity to now criticise the MLA when you have backed their policies along with McNichol re BSE imports ,grading system and then you constantly hit out at the ABA .
Now here is some real truth in regards to what went on at the MLA AGM in November.
1.Six ABA directors and 2 very loyal members traveled all the way to Darwin to go into battle against the MLA and the so called Peak Councils .A crowd of 110-120 or 10% of what attended the highly successful new direction forum at Armidale last month.
2.Half an hour into the meeting Crombie arrived and sat in front of the ABA directors.He rose to the microphone and congratulated Don Heatly and the MLA(how predictable) and then proceded to critice those who were sitting behind him (meaning ABA) for being critical of the MLA.He said that nothing had changed since he was chairman of the MLA except that the humour of Lee McNichol was now missing from those seated behind him.(Lees rare brand of humour was not missed at Armidale with an apron around his waist and a box around his neck he tried to sell make believe pies).
3.During Heatly,s Chairmans address he congratulated the NFF for their great work on the ETS.This was my oppurtunuty to remind Heatly that under the MOU they are meant to be apolitical and then I proceded to tell the yes men at the meeting of how the NFF had sold out 200 000 cattle producers by backing Rudds ETS .Heatly then stopped me speaking,however after I refused to walk from the microphone he reluctantly appologised after consultation from the board.
4.The whole day consisted of wild aplaused and snide grins from Crombie and Co when ever priase was given to the MLA and and distatesful jeers of derision at times when the ABA Directors and members went to the microphone .It was one of the most biased examples of Chairmanship I have witnessed apart from when Crombie was at the helm of the MLA.
For the record concerning the nomination of JBS Australian CEO Ian Mars I was the only person to speak (as a representative of the ABA) against his nomination on the board of MLA.My questioning over his companies insistence on only accepting cattle that are LPA accredited was again cut short by Heatly.

For those who insit that the Armidale forum was a witch hunt they should be reminded that JR McDonald gave Don Heatly the same time to speak as me 5 MINUTES.I went for 6.5 minutes heatly went for 10.
I may sound harsh Matt and I appreciate the contribution that you and your family have done in an attempt to build a feedlot in WA ,however I have had a gutfull of Journalists such as Phelps ,Condon and Cooper editing the facts to push a political agenda and of course an ex-ABA member such as McNichol doing the same.
I also suggest Matt that you ask the MLA for the minutes of their 2009 AGM in Darwin .If you are a member of the MLA and a levy payer you should be entitled to it.
Agmates provides a great forum for the public to vent their spleen on rural issues.
I have just done so.

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