JBS, the world’s largest meat producer, today confirmed the acquisition of Vivara, a Dutch vegetable protein maker, for 1 341 million, as Brazil seeks to strengthen its vegetarian presence in Europe.
The transaction includes three factories and a research and development center located in the Netherlands, the meat company said in a statement today.
Vivara is one of the largest plant-based food manufacturing companies in Europe and serves large retailers in 25 European countries, with significant presence in the markets of the Netherlands, the United Kingdom and Germany.
“This is an important step in strengthening our global vegetable protein base. Vivara gives strength to JBS in this field,” said Gilberto Tomasoni, CEO of JBS Global.
According to the company, in order to cultivate its “entrepreneurial spirit”, it will maintain Vivara as an autonomous business division and maintain its current leadership.
The Brazilian multinational entered the vegetable meat market in 2019 and already dominates about 57% of the country’s vegetable-based hamburger market in Brazil.
The transaction was unanimously approved by JBS management and subject to verification by antimonopoly authorities.
In addition to being the world’s largest meat producer, the multinational corporation, the world’s second-largest food company, has about 400 beef, pork, sheep and poultry processing units in 15 countries on five continents, including Brazil and the United States. Canada, United Kingdom, Australia and China.
The Brazilian company, which has more than 250,000 employees, also sells leather, hygiene and cleaning products or biodiesel.
Its brands include Swift, Freeboy, Sierra, Madurata, Kaba A Los Lilas, Pilgrims Bright, Gold Kist Farms, Pierce, 1855, Moy Park and Big Franco.
In 2017, the company was the target of “Corn Weak” police action, which revealed a network that falsified the results of quality tests carried out on samples of its products, causing a severe crisis, from which it began to recover.
In 2020, JBS had a net profit of $ 4,598 million (approximately 90 690 million), 24.4% lower than in 2019, a record revenue.