Brazil’s JBS S.A. announced on Tuesday it has submitted an asset divestment program to its board of directors, in which it plans to sell Moy Park, Five Rivers Cattle Feeding and a 19.2 percent stake in Brazilian dairy company Vigor Alimentos to raise BRL6 billion ($1.82 billion).
The world’s largest beef processor added that its divestment plan considers “non-core and less strategic assets.”
The $1.82 billion that JBS plans to raise by selling the assets would be in addition to $300 million from the sale of the company’s beef operations in Argentina, Paraguay and Uruguay to Minerva, announced on June 6.
Five Rivers Cattle Feeding is a wholly-owned subsidiary of JBS, with combined feeding capacity of more than 980,000 head of cattle, and farms located in Colorado, Kansas, Oklahoma, Texas, Arizona, and Idaho. The company also manages a 75,000 head capacity feed yard in Canada, according to information on its website.
Vigor Alimentos is one of Brazil’s largest dairy companies, controlled by J&F.