Brazil's JBS plans to focus on organic growth, not acquisitions
SAO PAULO, March 12 (Reuters) - Brazilian meats company JBS SA plans to focus on Australia, its U.S. pork division and JBS Foods as part of its 2015 strategy of "organic expansion" rather than acquisitions, CEO Wesley Batista said during a conference call on Thursday.
The company first said it would not seek acquisitions in 2015 in its Wednesday fourth-quarter earnings release, ending a years-long strategy of aggressive takeovers.
Supporting that strategy would require capital investment of between 2.5 billion and 3 billion reais ($806 million - $967 million) this year, Batista said.
($1 = 3.1 reais) (Reporting by Caroline Stauffer and Gustavo Bonato; Editing by Chizu Nomiyama)
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