The largest meat processor in the world, JBS, has confirmed its plans to move its headquarters to Dublin.
The move comes after JBS registered a number of companies in Ireland and the restructuring of the company will see more than €30 billion of assets moved to Dublin.
Giant Brazilian company is the largest meat processing company in the world producing processed beef, chicken and pork, and also selling by-products from the processing of these meats. It is currently headquartered in São Paulo, Brazil.
It filed documents with the Securities and Exchange Commission (SEC) in New York this week, detailing its plans a proposed global reorganisation of JBS.
Upon the completion of the reorganisation, JBS Foods International plc will be the ultimate parent company of the JBS Group.
The company told its investors earlier this year that it plans to restructure its international business to headquartered in Ireland and list it on the New York Stock Exchange.
The company already has a presence in Ireland through its subsidiary Moy Park which is the largest poultry meat producer in Northern Ireland and one of the 15 biggest food companies in the UK.
With 13 processing and manufacturing units in Northern Ireland, England, France, the Netherlands and the Republic of Ireland, the company has the capacity to process 240m birds annually, in addition to producing around 200,000t of food per year.
JBS has a huge presence in the US, it is responsible for 22% of the U.S. beef supply. Some 70% of its revenue is said to come from its US operation.
It leads the world in slaughter capacity and at 51.4 thousand head per day it dwarfs Irish meat processors.
The company has in excess of 200,000 employees and reported revenues in 2014 of $45 billion.