JBS S.A. gets confirmation — set to acquire Australian-based Tasman Group

JBS S.A is continuing to move forward with its plans to become one of the largest beef producers in the world.

The Brazilian-based company received authorization from the Australian Competition and Consumer Commission on Wednesday to buy the Australian-based Tasman Group. JBS S.A. officials have been waiting for the confirmation since early March, when the company announced it would buy the Tasman Group, along with National Beef Co., of Kansas City, Mo., and Smithfield Beef Group of Loveland, for about $1.7 billion.

The deal will close May 2, and the integration of JBS Australia and Tasman would begin immediately, according to a prepared release.

According to the release, the combined operations will employ more than 5,000 people and run 15 different units, which will allow the company to slaughter 8,500 steers and 16,500 smalls -- also known as sheep or calves -- a day.

JBS S.A. is still awaiting confirmation from the U.S. Department of Justice for their purchase of National Beef and Smithfield Beef Group. If approved, JBS S.A will have the capacity to slaughter 42,500 cattle a day in the U.S -- the most of any beef producer in the country.