JBS, the world’s largest meat processor, finally lassoed its U.S. public debut on Friday, June 13, 2025, with shares opening at a juicy $13.65. That price tags the company at a hefty $30 billion, leaving rival Tyson Foods chewing dust at $19.82 billion.
JBS hit the NYSE under the ticker “JBS,” but the party started a day late. The company mumbled something about “operational procedures” not being ready for Thursday’s planned debut. Meanwhile, its stock was sent packing from Brazil’s Sao Paulo Exchange last week to make room for this dual-listing shindig.
This isn’t just any meat company. JBS has been slicing and dicing for over 70 years, racking up $77.2 billion in revenue and $2 billion in profit last year. It’s got operations sprawled across Brazil, the U.S., and Australia, plus an 80% stake in Pilgrim’s Pride, the U.S. poultry big shot.
Getting to Wall Street wasn’t a quick barbecue. JBS first teased a U.S. listing back in 2009, but plans got overcooked twice. By 2016, they were ready to try again, only for Brazilian authorities to start sniffing around for corruption in 2017.
The scandal was a real meat grinder. J&F Investimentos, JBS’s parent company, coughed up a $3.2 billion fine to settle bribery charges in Brazil. Brothers Joesley and Wesley Batista, the company’s top dogs, dodged jail by spilling the beans to prosecutors.
The U.S. got in on the action too. In 2020, the Batista brothers and J&F settled with the SEC for $27 million over more bribery shenanigans tied to their Pilgrim’s Pride acquisition. Talk about a costly side of fries.
The Batistas took a breather from J&F after the mess but sauntered back onto the board last year after beating insider trading charges. Apparently, they’re as tough to shake as a stubborn steak stain. But the drama didn’t stop there.
In October, Brazil slapped JBS with a fine for buying cattle raised on protected Amazon land. Environmentalists and lawmakers from both sides of the U.S. aisle cried foul over the NYSE listing. They argued JBS’s rap sheet made it about as trustworthy as a fox in a henhouse.
Then came the plot twist. After Donald Trump’s reelection, JBS’s subsidiary Pilgrim’s Pride dropped a whopping $5 million into his inauguration fund, making it the biggest donor. JBS shrugged it off, saying they’ve always played nice with both political parties.
The SEC, perhaps distracted by the smell of campaign cash, gave JBS the green light in April. Shareholders, after some hemming and hawing, narrowly approved the NYSE move in May. And just like that, JBS was ready to grill on Wall Street.
Friday’s debut wasn’t all sizzle, though. Shares dipped 6% early on, suggesting investors might be holding their noses at JBS’s checkered past. Still, the company’s massive size and global reach make it a tough cut to ignore.
JBS’s journey to the NYSE reads like a soap opera with extra barbecue sauce. From bribery scandals to Amazon fines, they’ve dodged more bullets than a cowboy in a saloon shootout. Yet, here they are, trading on the Big Apple’s biggest stage.
Wall Street seems to have a mixed appetite. Some analysts, like those at Citi, say the listing could boost JBS’s value closer to its rivals. Others, like Mighty Earth’s Glenn Hurowitz, warn that JBS’s history of bending rules could burn investors.
The Batista brothers, back in the saddle, are likely grinning. Their return to the board and this NYSE win could fuel more acquisitions, making JBS’s empire even meatier. Critics, though, are still waving red flags about governance and environmental issues.
JBS’s debut also raises eyebrows about timing. The SEC’s approval came hot on the heels of that $5 million donation, prompting folks like Senator Elizabeth Warren to question if it was all above board. JBS insists it’s just business as usual, but the optics are stickier than a rib glaze.
What’s next for JBS? The company’s got big plans to keep growing, maybe snapping up more meatpackers like a hungry carnivore. But with ongoing lawsuits, including one from McDonald’s over price-fixing, the road ahead might be bumpier than a butcher’s cutting board.
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