Brazilian meats company JBS SA plans to focus on Australia, its U.S. pork operations and its processed foods division under a 2015 strategy focused on "organic expansion" rather than acquisitions, CEO Wesley Batista said on Thursday.
Between 2.5 billion and 3 billion reais ($806 million – $967 million) in capital investment will be needed this year to support the strategy, Batista said during a conference call.
The company first said it would not seek new acquisitions this year in its fourth-quarter earnings statement on Wednesday, ending a years-long strategy of aggressive takeovers.
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