Primo sale brings home the bacon

The big price paid by fresh meat processor JBS for smallgoods business Primo highlights the desire among food producers to capitalise on the rapidly growing Asian market.

Three years ago the Lederer family sold a 70.1 per cent interest in their Primo Group to the private equity firm Affinity Equity Partners in a deal which placed an enterprise value of $740 million on the smallgoods business they had founded in 1985. Today the business was sold for $1.45 billion.

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