China

JBS signs a $1.5 billion deal with Alibaba to sell meat in China

Brazil-based meatpacking giant JBS has entered an agreement with the e-commerce company Alibaba to sell its beef, pork and poultry in China. The deal could be worth $1.5 billion over the next three years.

Posted on Nov 09 ,10:50

JBS signs a $1.5 billion deal with Alibaba to sell meat in China

A memomrandum of understanding was signed by Renato Costa, CEO of JBS Beef Brazil, and Richard Wang, an executive from Win Chain, a subsidiary of the Alibaba Group which focuses on fresh foods and coordinates the company’s supply chain.

The ceremony was held on November 6 during the China International Import Expo and was attended by other JBS executives, including Joanita Karoleski, CEO of Seara, and Brent Eastwood, CEO of JBS Australia, as well as Zhang Ye, CEO of Win Chain.

JBS said it should deliver its first shipment of products within 30 days.

“This deal will significantly expand our beef business and build further value for the Friboi brand, which we launched in China during the CIIE. We have developed products based on packaging, cuts and portions specifically designed for the Chinese market”, said Renato Costa. “Our brands are increasingly being recognized for the high quality and safety of the food we produce, with product traceability and a sustainable production process – issues of increasing importance to consumers – and they will be available across a variety of channels for either corporate customers – retail and food service – or end consumers (B2B)”, he explained.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

SCOTLAND

Lizzie Wilson, NPA: A ham sandwich disaster waiting to happen

NPA chief executive Lizzie Wilson, highlighting the origin of previous major disease outbreaks, d...


Read more Read more
NEW ZEALAND

Rabobank: New Zealand agribusiness outlook 2025

From record highs achieved for many commodities in 2022, to significant lows in 2023 and 2024. Th...


Read more Read more
ARGENTINE

Argentine: Mandatory electronic identification of livestock postponed until 2026

"The measure responds to demands from the productive sector, which asked for more time to adapt t...


Read more Read more
Websolutions by Angular Software and SpiderClass