Jamaica Broilers Group Limited has agreed to sell assets tied to its Best Dressed Chicken processing plant in South Carolina, deepening efforts to repair the US business, which has weighed on group earnings in recent reporting periods.

The disclosure was posted to the Jamaica Stock Exchange on Tuesday.

The move adds fresh urgency to a turnaround plan investors have been watching closely. While the value of the pending transaction was not disclosed, Group CFO Ian Parsard said the proceeds will be used to reduce liabilities within the US operations.

“Proceeds will be used to reduce the company’s liabilities. Those are specifically liabilities of the US Operations,” Parsard told the Jamaica Observer.

He added that Jamaica Broilers was not yet in a position to discuss the asset value until the deal closes and any required disclosures are made.

The South Carolina facility was acquired in September 2019 from Gentry’s Poultry Company, Inc through subsidiary The Best Dressed Chicken, Inc. At the time, Jamaica Broilers said the purchase represented less than 10 per cent of the group’s net worth or approximately $1.5 billion.

The sale also comes against the backdrop of wider financing discussions in the US market. Jamaica Broilers previously disclosed that roughly US$120 million in debt remained tied to its American business after refinancing moves on the Jamaican side.

Parsard said discussions with US lenders remain active.

“There are ongoing discussions with US lenders on the way forward. To date, they remain very cooperative,” he told the Business Week.

The company has been steadily signalling that changes were coming. At its recent annual general meeting, management indicated it was reviewing options for underperforming operations in the US meats business in a bid to stem losses and redirect capital towards stronger-performing areas.

Latest unaudited results suggest the pressure has eased, but not disappeared. For the nine months ended January 31, 2026, Jamaica Broilers reported a net loss of $999.7 million, an improvement from the $3.54 billion loss booked in the corresponding period last year. Group revenue rose 2 per cent to $73.6 billion, while gross profit increased 22 per cent to $13.5 billion.

The Jamaican business remained the anchor of the group, generating segment profit of $4.28 billion on revenues of $44.05 billion. By contrast, the US operations posted a segment loss of $1.37 billion, though that was markedly better than the $4.01 billion loss recorded a year earlier. US external revenues climbed to $29.57 billion from $27.83 billion.

In commentary accompanying the quarterly report, directors said the US segment continued to face challenges linked to selling prices and production costs, but maintained that deliberate steps were being taken to fix the weak areas.

“We do expect that the US operations will return to being a significant positive contributor to our group performance in the near future,” the company said.

This is not the first time Jamaica Broilers has sold assets in the United States as part of efforts to refine its operating footprint.

In 2024, the group sold hatchery assets in Iowa for US$23 million, a transaction management said generated a gain and was expected to improve efficiency by consolidating parts of the business closer to its South Carolina processing operations. The company had also indicated that the move could lower annual operating costs by about US$1.5 million.

That earlier deal was framed as an efficiency move. However, the latest South Carolina sale is more closely tied to the push to improve profitability in a segment that has remained under pressure.