NETHERLANDS – world’s largest processor of fresh beef and pork JBS has agreed to acquire plant-based meat producer Vivera in a deal worth approximately €341 million (about US$409.35 million).
Netherlands-based Vivera is the third-largest manufacturer of plant-based food products in Europe producing a number of meat alternatives such as burgers, chicken and mince alternatives.
It has a presence in 25 countries across the continent, including the Netherlands, the UK and Germany.
According to a statement from JBS, the acquisition includes three manufacturing units and a research and development centre located in The Netherlands.
The Brazilian company claimed that it plans to manage Vivera “as a standalone business unit”, with Vivera’s current leadership team remaining in place.
This purchase comes as JBS seeks to enhance its presence in the plant-based food category, which is estimated to grow exponentially bouyed by increasing consumer demand for plant-based products by consumers who prefer them for their superior health and environment attributes.
According to MarketsandMarkets, the plant-based meat market is estimated to be valued at USD 4.3 billion in 2020 and is projected to reach USD 8.3 billion by 2025, recording a CAGR of 14.0%, in terms of value.
The European market is projected to continue its dominance in the market, due to innovative product development in the region, backed with appropriate research and development facilities available in the region.
Gilberto Tomazoni, global CEO of JBS, said: “This acquisition is an important step to strengthen our global plant-based protein platform. Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation”.
JBS has already released a number of plant-based products to meet this demand, notably through its Seara subsidiary’s Incrível range in Brazil, while the firm’s Planterra unit has debuted a number of plant-based products through its Ozo brand in the US.
Willem van Weede, CEO of Vivera, added: “Joining forces with JBS gives us access to significant resources and capabilities to accelerate our current strong growth trajectory and Vivera brand expansion.“
Meanwhile, during a preliminary approval on April 15, a federal judge in Minnesota granted another class action pork price-fixing settlement between JBS and Commercial and Institutional Indirect Purchaser Plaintiffs (CIIPS).
Judge John R. Tunheim of the US District Court of Minnesota accepted the US$12.75 million settlement between the two parties.
Some of the CIIPS include: The Breakfast Joynt, Longhorn’s Steakhouse, Erbert & Gerbert’s, Ziggy’s BBQ Smokehouse & Ice Cream Parlor, Confetti’s, Sandee’s Bakery and Joe’s Steak and Leaf.
JBS also recently reached a US$24.5 million agreement over price-fixing allegations with wholesalers and a US$20 million agreement on a consumer class-action case.
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