> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # JBS Plans $383 Million Share Payment To Buy Flora And Canal Rural From J&F - URL: https://www.bullished.co/jbs-plans-383-million-share-payment-to-buy-flora-and-canal-rural-from-j-and-f-b101d52b/ - Published: 2026-11-09T22:06:54.000Z - Updated: 2026-11-09T22:06:53.000Z - Description: The food company would enter personal care by buying its former division, while J&F's ownership stake would rise. - Author: Matteo Parrino - Tags: Deals, JBS, Industry: Consumer Staples [JBS](https://www.bullished.co/tag/jbs/), which produces meat and prepared foods, agreed Monday to [buy Flora](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea0311486-8k%5Fjbs.htm?ref=bullished.co) and agribusiness broadcaster Canal Rural from its controlling shareholder's group, according to an SEC filing. The purchases call for [$383 million](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea031148601ex99-2.htm?ref=bullished.co) in stock consideration and would take the food company into beauty and personal care. ## Treasury Shares Increase J&F's Stake JBS plans to transfer 31.4 million treasury shares—shares it holds itself—at a $12.20 reference price. Those shares represent 2.9% of the share count; the company's presentation puts J&F's ownership at 51.57% after the purchases, compared with 50.15% before them. Flora's [$542 million valuation](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea031148601ex99-1.htm?ref=bullished.co) includes debt JBS would assume. The payment to its owners is $367 million, entirely in Class A treasury shares or Brazilian depositary receipts, each representing a Class A share. Canal Rural is valued at [$11 million](https://www.businesswire.com/news/home/20261109829269/en/JBS-Enters-Personal-Care-Market-with-Flora-Acquisition?ref=bullished.co) before cash and debt adjustments. Its equity consideration is $16 million, bringing the combined share payment to $383 million. Both businesses would become wholly owned subsidiaries of JBS's Brazilian subsidiary. The sellers are J&F and, for Flora, FIP Fiagro, members of the same economic group as JBS. Independent institutions supported the valuations, and the purchases received approval from the independent audit committee and board members without conflicts of interest. ## Flora Returns With Consumer Brands Flora generated [$531 million in net revenue](https://www.businesswire.com/news/home/20261109829269/en/JBS-Enters-Personal-Care-Market-with-Flora-Acquisition?ref=bullished.co) over the twelve months ended September 2026\. Its footprint includes five factories, seven distribution centers, a research and development center and more than 4,200 employees. Minuano, Francis, Neutrox and OX are among its brands. The purchase would reunite JBS with a business [separated in 2007](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea031148601ex99-1.htm?ref=bullished.co). Flora began as its hygiene and cleaning division, and JBS still supplies beef tallow for those products. JBS's core business sells fresh and frozen meat, eggs and prepared foods to customers ranging from supermarkets and distributors to restaurants and hotels. It generated $86.2 billion in net revenue in 2025, with exports contributing 26%. Personal care also connects to JBS's ingredient business. It established Genu-in in 2022 to develop bovine-collagen ingredients; Genu-in Skin, launched in 2025, is intended to improve skin firmness and elasticity. JBS sees Flora's brands and distribution as a route into additional nutrition, health and beauty categories. ## Debt Comes With An Earnings Bet JBS expects Flora's earnings contribution and the stock-payment structure to leave its net leverage ratio—net debt relative to earnings—unaffected. Paying with treasury shares preserves cash, although JBS would assume Flora's debt. Flora's trailing adjusted earnings before interest, taxes, depreciation and amortization were [$45 million](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea031148601ex99-2.htm?ref=bullished.co), with an 8.5% margin. That measure excludes an $11 million civil-lawsuit settlement. Management's standalone budget for 2027 forecasts $673 million in revenue and $77 million in adjusted earnings on that same measure, with an 11.5% margin. The earnings forecast already assumes operational improvements, including normalized raw-material costs. JBS identifies tax-credit offsets, shared services and procurement as potential benefits. Its preliminary assessment says the transaction could deliver more than $400 million in incremental synergies over the next 10 years; those opportunities remain subject to confirmation and implementation. JBS expects both purchases to close in December 2026, unless the parties agree to a different timetable. Learn - [Item 3.02: unregistered sales of equity securities →](https://www.bullished.co/learn/8-k-items-explained/#item-302-unregistered-sales-of-equity-securities) From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples ### Sources - [8-K Filing — JBS N.V. (JBS)](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea0311486-8k%5Fjbs.htm?ref=bullished.co) — SEC EDGAR - [Exhibit ea031148601ex99-1.htm — JBS N.V. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea031148601ex99-1.htm?ref=bullished.co) — SEC EDGAR - [Exhibit ea031148601ex99-2.htm — JBS N.V. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001791942/000121390026117580/ea031148601ex99-2.htm?ref=bullished.co) — SEC EDGAR - [JBS Enters Personal Care Market with Flora Acquisition](https://www.businesswire.com/news/home/20261109829269/en/JBS-Enters-Personal-Care-Market-with-Flora-Acquisition?ref=bullished.co) — businesswire.com ### More on JBS - [JBS Profit Falls To $164 Million As Pork And Brazilian Beef Earnings Slide](https://www.bullished.co/jbs-profit-falls-to-164-million-as-pork-and-brazilian-beef-earnings-slide-62eb7123/) [All JBS (JBS) coverage →](https://www.bullished.co/tag/jbs/)