JBS, the world's largest meat company, said on Wednesday it has entered into an agreement to acquire a processed foods production facility in Ankeny, Iowa, reported Reuters. The company said it will invest $100 million in the unit to build the largest bacon and ready-to-eat sausage plant in the company's US portfolio.
The purchase of the facility, previously owned and operated by Hy-Vee, is in line with the company's long-term strategy of offering more prepared and higher-value food products in the US market, management said in a filing.