JBS has completed its acquisition of European plant-based protein company Vivera.
Vivera offers products in more than 25 countries, with relevant market share in the Netherlands, the United Kingdom and Germany. Included in the acquisition are three production facilities and a research & development center, all located in the Netherlands.
JBS announced that it had closed on the transaction in a material fact on its investor relations webpage on June 17. The company announced its intent to acquire Vivera on April 19.
In the most recent material fact, JBS said the acquisition will help it expand its portfolio of value-added and branded products, and strengthen its global plant-based food 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.
When the agreement between JBS and Vivera was announced, it was stated that JBS would buy all of the shares issued by Vivera, which has an enterprise value of ERU341 million (US$410 million).
Under the agreement, JBS will manage Vivera as a standalone business unit, and its current leadership team will remain in place.
Other recent JBS mergers and acquisitions
JBS has been actively growing through mergers and acquisitions in recent months. On the same day that the Vivera acquisition was announced, JBS also announced that Pilgrim’s Pride had reached a deal to acquire Kerry Consumer Foods’ meats and meals business. JBS owns the majority of Pilgrim’s Pride shares. Kerry Meats is a leading manufacturer of branded and private label meats, meat snacks and food-to-go products in the United Kingdom and Ireland. It is also a leading ethnic chilled and frozen ready meals business in the United Kingdom.
Earlier in June, JBS announced that it was acquiring pork business Rivalea Holdings, and Oxdale Dairy Enterprise, both located in Australia.
