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Thursday, July 23, 2009
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JBS Plan $2 billion Sale to Fund Expansion

GENERAL - The Brazilian owners of the former Swift & Co. meatpacking operations based in Greeley have planned a $2 billion public offering to raise money for continued expansions that could essentially cut out the grocery store butcher.

In paperwork filed with the Securities and Exchange Commission, JBS intends to offer the company up for public stock offerings to continue its growth strategy into the next five years, reports TheTribune.

According to the report, the growth includes expanding its value-added options, such as seasoned beef cuts, plus increasing its distribution network. The distribution network includes in-house cutting rooms, whereby meat would be cut and packaged ready for the supermarket shelves, also known as case-ready.

Progress in such steps to create case-ready meat has been slow, Kay said, because of resistance from the consumer and at the retail level.

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