JBS intends to expand its presence in the plant-based protein sector with the planned acquisition of European company Vivera.
JBS announced the plans in a material fact on its investor relations webpage, and Vivera announced the plans in a press release. Both stated that an agreement had been entered for JBS purchase all of the shares issued by Vivera, which has an enterprise value of EUR341 million (US$410 million).
"This acquisition is an important step to strengthen our global plant-based protein platform," Gilberto Tomazoni, Global CEO of JBS, said in a press release. "Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation."
Vivera is the third largest plant-based protein company in Europe, with a headquarters and three production facilities in the Netherlands. The company’s origins date back to 1990.
Vivera produces products under its own brand, as well as under private labels. Its distribution reaches more than 25 countries, with a relevant market share in the Netherlands, the United Kingdom and Germany.
Under the agreement, JBS will manage Vivera as a standalone business unit, and its current leadership team will remain in place. All three production units are also included in the deal.
“Joining forces with JBS gives us access to significant resources and capabilities to accelerate our current strong growth trajectory and Vivera brand expansion,” stated Willem van Weede, CEO of Vivera.
With the acquisition of Vivera, the Brazil-based JBS would strengthen and boost its own plant-based products platform. JBS’ present offering of plant-based products includes Seara’s Incrivel range, which is a market leader in plant-based hamburgers, and Planterra Foods, which was launched in the United States under the brand name OZO.
The closing of this transaction, which was unanimously approved by the JBS Board of Directors, is subject to the usual conditions for this type of transaction, as well as the approval of the relevant antitrust authorities.
