Jamaica Broilers Group Limited (JBG) to Sell its Hatchery In USA

• JBG has announced that it has entered into an agreement to sell its hatchery assets located in Iowa, USA for US$23 million.
• These assets were previously purchased in March 2016 from Welp Inc. and were held through the Company’s subsidiary, International Poultry Breeders Hatcheries, Inc.
• The transaction is part of the company’s strategy to consolidate its assets and to increase the efficiency of JBG’s vertical integration in the United States.
• JBG’s US Operations reported segment profits of $2.98Bn for Q3 2023 which was 8.2% (or $226Mn) above last year’s segment result. This increase was driven by increased volumes of poultry meat and eggs, as well as the implementation of cost management initiatives.

(Sources: JSE & Company Financials)