By Patrick Thomas

Trade upheaval hasn't stopped the world's biggest meat company from pursuing a long-sought public listing.

JBS shareholders on Friday approved a plan that would restructure the company, which is publicly traded in Brazil, and allow it to list its shares on the New York Stock Exchange next month.

President Trump's trade war has injected turbulence into the global meat market. In the U.S., where JBS is one of the biggest beef and pork processors, retaliatory tariffs from China are hurting meatpackers' ability to ship beef, hog heads and chicken feet overseas.

Meat exporters in Brazil-JBS's home base-have been expected to pick up business because of the U.S.' more aggressive trade policies. The company's shares have increased about 16% on Brazilian markets since the beginning of the year.

"As the U.S. has these challenges, we're seeing positives in other geographies and in other proteins," said Wesley Batista Filho, U.S. chief executive at JBS, on a May call with investors.

JBS has grown over the past two decades through a string of acquisitions that have made it the largest U.S. beef processor, and majority owner of the second-largest American chicken company, Pilgrim's Pride. More than half of its nearly $80 billion in sales come from North America.

Company executives have said a U.S. listing will help it diversify its business and grow into more branded food products, reduce the cost of capital and generate greater returns for shareholders. "The outcome of the meeting demonstrates that shareholders are confident in the benefits that will arise from the dual listing," said JBS CEO Gilberto Tomazoni in a statement.

Environmental groups have challenged the listing, and shareholder advisory firms recommended investors vote against it. The firms said that the listing could give the company's controlling shareholder-J&F Investimentos, which is run by the Batista family and owns about half of the company-roughly 85% of voting power in the company.

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May 23, 2025 13:02 ET (17:02 GMT)

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