The deal, which marks JBS’s entry into to the lab-grown meat market, is part of a $100 million investment in the sector. Just over $40 million of the funds will be used to construct a 1,000 tons/year cultivated meat plant in Spain, and there are also plans for an R&D center in Brazil.
“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.” Gilberto Tomazoni, the global CEO of JBS, says in a statement.
JBS reports about $50 billion annually from processing beef, chicken, pork, and byproducts.