November 6, 2018 / 5:26 PM / 14 days ago

JBS signs up to $1.5 billion deal with Alibaba to sell protein in China

The logo of Brazilian meatpacker JBS SA is seen in the city of Jundiai, Brazil June 1, 2017. Picture taken June 1, 2017. REUTERS/Paulo Whitaker

BRASILIA (Reuters) - JBS SA, the world’s largest meatpacker, has signed a 3-year agreement with China’s Alibaba Group Holding Co worth up to $1.5 billion to sell animal protein in China, according to a securities filing on Tuesday.

The deal will allow JBS to expand both in the business-to-business and business-to-consumer segments, the filing said, particularly in livestock.

Reporting by Bruno Federowski; Editing by Chizu Nomiyama

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