a Brazilian company acquired by JBS this year, announced this Saturday (15) that it has signed a binding agreement to acquire Hickmans Egg Ranch, one of the 20 largest egg companies in the United States.
The acquisition reinforces the company’s long-term strategy to build a strong presence in the American egg market. Neither party disclosed the transaction values, but according to Brazil Journal, the deal was valued at just over US$300 million.
According to the newspaper, other players were also interested in the agreement, but Mantiqueira took the lead and began negotiating exclusively in recent weeks.
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“Hickmans is a respected leader with a legacy of quality and service. Combining his deep industry experience with our global experience positions Mantiqueira USA for long-term success,” highlighted Leandro Pinto, founder of Mantiqueira. The transaction is expected to be completed by the end of the year.
Mantiqueira USA operates as a joint venture between the Pinto family, founders of Mantiqueira, and JBS.
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What is Hickman’s?
Hickman’s is the largest egg producer in the southwestern United States and was founded in 1944. With a processing capacity of more than 750,000 eggs per hour in its shell egg line, the company operates primarily in Arizona and the West Coast.
The company had a capacity of 10 million chickens – but the bird flu outbreak caused the family business to lose 95% of its birds. And now the reconstruction is underway: the company has begun its process of repopulating the farm, which it will continue for the next few years.
According to Brazil Journal, the company will raise the chickens free range, in line with what Mantiqueira preaches in its business, focused on animal welfare.
