Brazil's JBS buys into egg producer, as prices soar

• U.S. egg prices are estimated to climb by another 20.3% this year, per an Agriculture Department report, despite already hitting record highs on an 8.3% surge in December.
• Brazil thus far has avoided any outbreaks.

Zoom in: The deal values Mantiqueira Brasil at around a $321 million, with JBS to share control with the egg company's chairman and founder.

The bottom line: JBS is seeking to expand beyond its core meat business, and believes it can leverage its existing poultry assets to become an egg giant.