JBS overtakes Nestlé to become the largest food company in the world

247 – JBS, a company created in Goiás by the Batista family, has become the largest food company in the world. “JBS has achieved a feat that, until a few years ago, would have been unthinkable for a company of Brazilian origin. According to a ranking organized annually by Bloomberg, the Batista brothers’ firm overtook Nestlé as the largest food company in the world, in terms of revenue In twelve months, JBS’ net revenue reaches R$ 366 billion (the equivalent of US$ 69 billion)”, points out reportage of Value.

“JBS has just reported a net income of R$ 5.1 billion in the first quarter, an expressive amount that will already allow the anticipation of the payment of dividends – R$ 2.2 billion, or R$ 1 per share. Still taking advantage of the heated demand for meat in the US, JBS more than doubled its profit compared to the same quarter last year, when it delivered a result of R$ 2 billion. The expansion of the company, which made several acquisitions last year, also helped to increase revenue. In the quarter, JBS’ net revenue grew 20.8%, reaching R$ 90.8 billion”, the report also points out.

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