Australia’s largest fresh meats processor, JBS Australia, has signed a $1.45 billion deal to acquire Primo Group, the largest ham, bacon and smallgoods producer in Australia and New Zealand.

Primo owns brands including Primo Smallgoods, Hans and Beehive.

Its operations include five processing plants operating across Australia as well as New Zealand, employing more than 3000 people.

The transaction is set to leverage the Primo Group’s growing export operations across Asia, including China, and is consistent with the global strategy of JBS to grow its presence in value-added products.

Primo Group chief executive Paul Hitchcock said he welcomed the sale to JBS.

“While it will remain very much business as usual for our employees, suppliers and customers, this transaction offers tremendous opportunities for a producer of high-quality products like Primo,” Hitchcock said.

“We look forward to being part of JBS and capitalising on its international distribution network.”

JBS chief executive Wesley Batista said the acquisition was strongly aligned with his company’s global strategy to expand its presence in the value-added product category with well-known brands.

“Primo Group is the leading company in this segment with strong brands and represents an outstanding opportunity to grow our business in Australia and internationally.”

Primo Group was established in 1985 by Paul Lederer and other family members.

In October 2011, Asia-Pacific based private equity firm Affinity Equity Partners acquired 70.1 per cent of the group.

Since then, Primo has built a food manufacturing facility in Wacol, Queensland, the largest in Australia, as well as acquiring the leading bacon and ham business in New Zealand, Premier Beehive.

The sale is subject to regulatory approvals.