JBS Enters US Egg Market with $1.1 Billion Hickman's Acquisition

Mantiqueira USA Inc., a wholly owned subsidiary of the joint venture between JBS and the founders of Mantiqueira Alimentos, has agreed to acquire Hickman's Egg Ranch in a move that marks the company's entry into the US egg market. The deal, valued at approximately $1.1 billion, is expected to be completed by the end of 2025. According to sources, the acquisition will significantly expand Mantiqueira's presence in the US market, with the company set to gain control of Hickman's Egg Ranch's 1.5 million laying hens and 1.2 million square feet of production facilities. The deal is expected to generate annual revenues of around $250 million and increase Mantiqueira's global egg production capacity by 15%. The acquisition is seen as a strategic move by Mantiqueira to capitalize on the growing demand for eggs in the US market. The global egg market is projected to reach $43.8 billion by 2027, with the US accounting for a significant share of the market. The deal is also expected to enhance Mantiqueira's position in the US market, where it will compete with established players such as Cal-Maine Foods and Eggland's Best. Mantiqueira Alimentos, the parent company of Mantiqueira USA, is a leading Brazilian food processor with a strong presence in the global meat market. The company's joint venture with JBS, the world's largest meat producer, has enabled it to expand its operations into new markets and product segments. JBS, which has a market value of over $50 billion, has been actively expanding its presence in the US market through a series of acquisitions and partnerships. The acquisition of Hickman's Egg Ranch is expected to have a positive impact on Mantiqueira's financial performance, with the company set to benefit from the deal's expected annual revenues and increased production capacity. The deal is also seen as a strategic move by Mantiqueira to diversify its product portfolio and reduce its dependence on the meat market. In a statement, the CEO of Mantiqueira USA Inc. said, "This acquisition marks an important milestone in our company's expansion into the US market. We are excited to bring our expertise and resources to the egg market and contribute to the growth of the industry." The deal is expected to be completed by the end of 2025, subject to regulatory approvals and other customary conditions.