Mr Robb said the transaction would result in a business with the necessary scale and distribution networks to continue supporting our domestic market while increasing the exports of high-quality Australian products to global markets.

JBS Australia is a wholly-owned subsidiary of JBS USA Holdings that is a subsidiary of JBS Brazil, which is the world’s largest processor of beef and pork.

Mr Robb met with the chief executive of JBS Brazil Wesley Batista during a visit to Latin America late last year.

JBS in Australia employs 8500 people with 12 processing facilities, 14 distribution centres and feed lots supplying both domestic and export markets under well-known brands such as King Island Beef and Great Southern Beef and Lamb. JBS has a wide network of international sales offices.

Primo is Australia and New Zealand’s leading producer of ham, bacon and small goods in under brands such as Primo Quality Meats and Hunter Valley Quality Meats.

The company employs more than 3000 people and operates five plants, seven distribution centres and 37 retail outlets. The combined operations will employ around 12,000 people making it one of Australia’s leading food businesses.

“JBS and Primo will be well-equipped to more effectively compete in the key markets of Asia such as Korea, Japan and China. These export efforts will be boosted by the market access gains secured through our recently concluded trifecta of free trade agreements with these countries,” Mr Robb said.

“This proposal confirms Australia as a premier destination for high quality, value-added food manufacturing that is increasingly integrated into global supply chains.”