JBS USA and Pinnacle Asset Management Announce Closure of JBS Five Rivers Sale

GREELEY, Colo., and NEW YORK, March 16, 2018 -- JBS USA and affiliates of Pinnacle Asset Management, L.P., previously announced on Jan. 17, 2018, an agreement on the sale of the U.S.-based cattle feeding assets and farms, collectively known as JBS Five Rivers Cattle Feeding, from JBS USA to Pinnacle, in an approximately $200 million transaction. The transaction, as described in the announcement, was completed on March 16, 2018.

About Pinnacle Asset Management, L.P.

Founded in 2003, Pinnacle Asset Management, L.P., is a private, New York-based alternative asset management firm focused on the global commodities markets with approximately $2.3 billion under management. Pinnacle provides its institutional investor clientele with exposure to the global commodities markets via physical and financial absolute return funds, strategies and products. Pinnacle is registered with the Securities and Exchange Commission, is a commodity trading adviser and commodity pool operator registered with the Commodity Futures Trading Commission and a member of the National Futures Association.

ABOUT JBS USA

JBS® USA is a leading processor of beef and pork in the U.S., a leading processor of beef in Canada and a majority shareholder of Pilgrim's Pride Corporation, the largest poultry company in North America, with operations in the U.S., Mexico, the U.K., Ireland and continental Europe. JBS USA also enjoys a strategic relationship with JBS Australia, the leading processor of beef, lamb and smallgoods in Australia.

Headquartered in Greeley, Colo., JBS® USA processes, prepares, packages and delivers fresh, further-processed and value-added beef, pork, lamb and poultry products for sale to customers in more than 105 countries on six continents. The company employs more than 100,000 team members and operates more than 120 facilities in the United States, Australia, Canada, Puerto Rico, Mexico, the U.K. and Europe.

Contacts:
For JBS USA   
Cameron Bruett     
Corporate Affairs         
+1 202.445.6168                               
[email protected]

For Pinnacle Asset Management L.P.:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
+1 212 257 4170