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J&F Investimentos

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J&F Investimentos S.A
Company typeSociedade Anônima
IndustryConglomerate
Founded1953; 71 years ago (1953)
Headquarters
São Paulo, São Paulo
,
Brazil
Area served
Worldwide
Key people
Antonio Batista Costa (CEO)
ProductsFood and beverages, Financial services, Media, Electricity, Consumer goods, Retail, Manufacturing
RevenueIncrease US$ 76.1 billion[1]
OwnerBatista family[2]
Number of employees
275,000
Subsidiaries
Websitejfinvest.com.br

J&F Investimentos SA is a private investment holding company that was founded in 1953 and is based in São Paulo, Brazil.[3][4] The company is involved in myriad business endeavors, such as agribusiness, manufacturing, marketing and sales, electricity generation, waste management, real estate, and publishing, among others. J&F Investimentos is owned by the Batista family.[2]

In 2020, the company pleaded guilty to charges in the U.S. of paying nearly US$180 million in bribes to Brazilian officials.

Overview

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J&F Investimentos is in part a large agribusiness company that is involved in all aspects of the purveyance of beef, pork, poultry, and sheep food commodities, including animal rearing, slaughter, refrigeration, processing, marketing, sales and delivery.[4] J&F Investimentos owns JBS S.A., which is the largest meatpacker in the world.[5] The company also manufactures and purveys food products such as dairy, pasta and noodles, vegetable oils, yogurt, juices, sugarcane and cereal crops, and animal feed.[4]

The company is also involved in the manufacture and purveyance of aluminum cans, plastic resins, biodiesel, various leather products, cleaning and hygiene products, and glycerin.[4] Additional company business and endeavors are myriad, and includes the purchasing and selling of various products such as palm oil, tallow and soy grains, electricity generation from biomass, pulp production and distribution, industrial waste management, consulting services, real estate acquisitions, sales and leasing, publishing agribusiness information, and several other activities.[4]

Henrique Meirelles, Brazil's former Minister of Finance, was chairman of the company from 2012 to 2016.[6]

In 2017, the company agreed to pay a US$3.2 billion fine for its role in a corruption scandal.[7]

In 2020, the company pleaded guilty to charges in the U.S. of paying nearly US$180 million in bribes to Brazilian officials in exchange for state-backed financing used to purchase companies such as meatpacking corporations Swift & Company and Pilgrim’s Pride.[8]

In 2022, it established J&F Mineração and acquired the Centro Oeste System from Vale S.A., a system that produced, in 2021, 2.7 million tons of iron ore and 200,000 tons of manganese ore, and includes Mineração Corumbaense Reunida (MCR ) and comprises the mines of Urucum and Morraria Santa Cruz, in Corumbá, Mato Grosso do Sul.[9][10]

Subsidiaries

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Alpargatas S.A., the largest footwear company in Brazil and manufacturer of Havaianas flip-flop sandals, is a subsidiary of J&F Investimentos.[4][11] As of August, 2016, J&F Investimentos owned 6.99% of the common shares of Alpargatas.[12] In 2016, Brazil's audit court began investigation into a loan from Caixa Economica Federal to J&F Investimentos which was used to finance the company's acquisition of Alpargatas.[13] Investigators asserted that the timing of the loan and its terms, which included a seven-year repayment period and two-year grace period, provided the company with an unfair advantage "over rival bidders because it allowed the company to pay entirely upfront in cash".[13] Investigators also asserted that per the substantial amount of the loan, it should have been syndicated to other banks.[13]

Eldorado Brasil is a subsidiary of J&F Investimentos that is involved in pulp production; J&F Investimentos is its parent company.[6][14]

Vigor S.A. is a Brazilian dairy and food company that was a subsidiary of J&F Investimentos.[15] In 2017, the company sold its dairy firm to the Mexican dairy company Grupo Lala.

Ownership

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J&F Investimentos is owned by the Batista family of Brazil, and serves as the family's investment holding company.[5][16] The Batista family has stated that it plans to someday convert the company into a publicly traded investment company.[5]

References

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  1. ^ . J&F Investimentos https://jfinvest.com.br/wp-content/uploads/2024/04/2024-03-28-Demonstracoes-Financeiras-JF-Investimentos-Exercicio-2023.pdf. Retrieved 2024-04-14. {{cite web}}: Missing or empty |title= (help)[dead link‍]
  2. ^ a b "Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 - JBS Foods International B.V." UNITED STATES SECURITIES AND EXCHANGE COMMISSION. 5 December 2016.
  3. ^ Freitas, Gerson Freitas Jr Tatiana (October 21, 2016). "J&F Negotiates to Buy Back Shares of Eldorado From Pension Funds". Bloomberg. Retrieved October 24, 2016.
  4. ^ a b c d e f "Company Overview of J&F Investimentos S.A." Bloomberg. October 24, 2016. Retrieved October 24, 2016.
  5. ^ a b c Lewis, Jeffrey T. (November 23, 2015). "Brazil's J&F Investimentos to Buy 44% Stake in Alpargatas for $725 Million". The Wall Street Journal. Retrieved October 24, 2016.
  6. ^ a b Jelmayer, Rogerio; Magalhaes, Luciana (July 1, 2016). "Brazil Police Search Home of JBS Chief, Parent Company's Headquarters". The Wall Street Journal. Retrieved October 24, 2016.
  7. ^ Ricardo Brito; Tatiana Bautzer (May 31, 2017). "Brazil's J&F agrees to pay record $3.2 billion fine in leniency deal". Reuters.
  8. ^ "World's largest meatpacker, Brazil's J&F, pleads guilty in US court on corruption charges". Mercopress. October 17, 2020.
  9. ^ "Vale confirma venda de ativos do Sistema Centro-Oeste por cerca de US$ 1,2 bilhão". CNN Brasil (in Brazilian Portuguese). Retrieved 2023-03-07.
  10. ^ "J&F acerta compra de minas de ferro e manganês da Vale em MS por R$ 1 bi". Valor Econômico (in Brazilian Portuguese). 5 April 2022. Retrieved 2023-03-07.
  11. ^ Parra-Bernal, Guillermo; Jordão, Priscila (November 23, 2015). "Brazil's J&F to pay $716 million for controlling stake in Alpargatas". Reuters. Retrieved October 25, 2016.
  12. ^ "J&F Investimentos lança edital da OPA da Alpargatas". Dinheiro. August 17, 2016. Retrieved 24 October 2016.
  13. ^ a b c Marcelino, Francisco (September 12, 2016). "JBS's Parent Faces Brazil Probe on Havaianas Loan Agreement". Bloomberg. Retrieved October 24, 2016.
  14. ^ Sambo, Paula (September 5, 2016). "Brazilian Assets Slide After Protests Against Temer's Presidency". Bloomberg. Retrieved October 24, 2016.
  15. ^ "Vigor Alimentos não está à venda, diz J&F". Valor Econômico. October 24, 2016. Retrieved October 25, 2016.
  16. ^ Daniels, Jeff (October 14, 2016). "Meatpacking giant hopes planned NYSE listing will sizzle despite Brazilian probe". CNBC. Retrieved October 24, 2016.

Further reading

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