Another Aussie Company In Foreign Hands.

[icyfroth]

Another iconic Australian food company has fallen into foreign hands, with Brazilian food giant JBS's $1.45 billion takeover of ham, bacon and smallgoods producer Primo Smallgoods.

For JBS, which is Australia's biggest meat packer, marketer and exporter and the world's largest processor of protein, Primo is a move away from commodity meat into high-value branded products, an expansion into Australian pig meat and a launching pad to export protein to Asia.

The deal is another big one for JBS adviser Rothschild. Sam Prentice's team have had several high-profile deals this year, such as Saputo's acquisition of Warrnambool Cheese and Woolworths' David Jones takeover.

Rothschild brought JBS to Australia with the acquisition of Swift and its subsidiary Australian Meat Holdings for about $US1.4 billion in 2007. JBS then built its Australian footprint, buying Tasman Group, Rockdale Beef, Tatiara Meat Company and more recently Andrews Meat

The sale is the latest in a string of Australian food and beverage companies being snapped up by foreign buyers.

Treasury Wine Estate, maker of Penfolds, rejected a $3 billion private equity bid from American private equity giant Kohlberg Kravis Roberts earlier this year. A consortium of Asian investors have made a $1.4 billion bid for Goodman Fielder and Canadian dairy group won a takeover battle for Warrnambool Cheese and Butter in January.

 Entire Article Here

Well if it weren't so sad it'd be just laughable!

They want Australians to work longer to fund their retirement.

Where is all the work going to be if the government allows foreign investors to keep buying up our major industries?

[icyfroth]

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@grace.under.water wrote:

Tell me. icy, would you object to an English or American company taking over an Australian brand, or is it only ethnic/hispanic nations you have a problem with?

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Oh you want to Godwin the thread by calling me a racist? Fine.

I particularly object to any foreign raiders taking over Aussie companies and blocking Aussie producers out of the market.

[cherry*135]

The Federal Treasurer has approved a $1.4 billion takeover bid by Brazilian meat company JBS, to acquire Australian smallgoods producer Primo..

Good ole Joe, icy, want to pat him on the back for a job well done?

[nevynreally]

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@am*3 wrote:

The Federal Treasurer has approved a $1.4 billion takeover bid by Brazilian meat company JBS, to acquire Australian smallgoods producer Primo..

Good ole Joe, icy, want to pat him on the back for a job well done?

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I want a job. I want my kids to have a job. I don't really give a toss how.

[cherry*135]

You have a job, going by your recent posts.

I am commenting on Joe, because he gets kudo's on CS for making an foreign investor sell their $30m house in 90 days (because the buyer(s) didn't meet eligibility for buying an existing property in Australia.

Now,  same Joe has approved this sale.. and he is now the bad guy.

[nevynreally]

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@am*3 wrote:

You have a job, going by your recent posts.

I am commenting on Joe, because he gets kudo's on CS for making an foreign investor sell their $30m house in 90 days (because the buyer(s) didn't meet eligibility for buying an existing property in Australia.

Now,  same Joe has approved this sale.. and he is now the bad guy.

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So, you're stalking? I don't care enough about any of you. Funny how you're come out posting now. Yes, I have a job, I'd like to keep it.  Personal attack much?

[icyfroth]

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@am*3 wrote:

The Federal Treasurer has approved a $1.4 billion takeover bid by Brazilian meat company JBS, to acquire Australian smallgoods producer Primo..

Good ole Joe, icy, want to pat him on the back for a job well done?

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No I don't , Am, and I'm sick and tired of this this same old same old LNP vs ALP t1t for tat.

I want a government that acts in Australia's interests, and I'm afraid neither of the above is doing that.

Having said that, I'd much rather Mr Abbott in the job than the cpl of clowns in the previous government. God what an embarrassment they were.

Or the stooge that aspires to step into the role once the current government has been toppled. Because he's not going to do any different.

So don't kid yourself with your snide little remarks.

Australia is on the verge of being globalised by the corporations and it doesn't look like anyone can do anything about it.

[poddster]

Icy it is not as complex as it seems.

The unions, through their absurd demands, have priced local workers out of a job,

Ever increasing wage rises are not sustainable, as is evident.

[nevynreally]

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@icyfroth wrote:

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@am*3 wrote:

The Federal Treasurer has approved a $1.4 billion takeover bid by Brazilian meat company JBS, to acquire Australian smallgoods producer Primo..

Good ole Joe, icy, want to pat him on the back for a job well done?

---

No I don't , Am, and I'm sick and tired of this this same old same old LNP vs ALP t1t for tat.

I want a government that acts in Australia's interests, and I'm afraid neither of the above is doing that.

Having said that, I'd much rather Mr Abbott in the job than the cpl of clowns in the previous government. God what an embarrassment they were.

Or the stooge that aspires to step into the role once the current government has been toppled. Because he's not going to do any different.

So don't kid yourself with your snide little remarks.

Australia is on the verge of being globalised by the corporations and it doesn't look like anyone can do anything about it.

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It's way easier to point fingers though. Instead of coming up with solutions. Those in the top jobs are too busy feathering their own nests, from both sides, to bother with what the average taxpayer wants or needs. Some don't get that.

[icyfroth]

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@poddster wrote:

Icy it is not as complex as it seems.

The unions, through their absurd demands, have priced local workers out of a job,

Ever increasing wage rises are not sustainable, as is evident.

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I disagree. It's so complex that it simply can't be unravelled by any government with a nationalistic approach.

[vicr3000]

And when you do come up with solutions or examples they don't want to know.

Although one example I used, others have now cottoned on and ar asking for advice ! LOL