April 22, 2021

(photo credit: Vivera)

By Lynda Kiernan, Global AgInvesting Media

Brazilian meat giant JBS has taken a major step to gain a prominent foodhold in the plant-based protein space by acquiring Vivera, the third largest plant-based food company in Europe, in a deal valuing the company at  €341 million (US$410 million). 

As the world’s largest animal protein company and its second largest food company, JBS said that this deal is key to expanding its value-added product portfolio and strengthening its global plant-based products platform – a category that it expected to experience strong growth.

Since 1990, Vivera has been a pioneer in the development of vegetarian and plant-based foods, and is currently the largest independent plant-based company in the EU with a headquarters and three production sites in the Netherlands, and 400 employees.

Known for its vegan steaks, the company has an extensive product portfolio of more than 50 items which are sold across 25 countries, generating annual revenue of €83 million (US$100 million), while growing at 25-30 percent per year, a JBS spokesperson told Food Navigator. 

Through this deal, Vivera will join JBS’ massive portfolio of recognized brands forming a diversified global platform by geography and type of product (poultry, pork, beef, and lamb) including Swift, Pilgrim’s Pride, Sears, Moy Park, Primo, Friboi, and Just Bare, to name a few.

Despite JBS’ domination, the company recognizes that the animal protein sector has been ground zero for disruption in recent years with the advent and massive success of companies such as Impossible Foods and Beyond Meat.

As plant-based meat alternatives continue to ring true with health conscious consumers who are looking to amend their diets, or who want their food choices to align with their concerns over animal welfare or environmental issues, plant-based meat alternatives have broken into the mainstream, even appearing as items on the menus of fast food giants.

Indeed, even Tyson, Cargill, and Nestlé have all chiseled out a place in the plant-based meat space, vying for share in a market that ING predicts will be valued at  €7.5 billion (US$9 billion) by 2025.

The addition of Vivera will handily expand JBS’ standing in regard to its ability to capitalize upon this growth – not only through plant-based items, but value-added products offering greater margins.

“This acquisition is an important step to strengthen our global plant-based protein platform,” said Gilberto Tomazoni, Global CEO, JBS. “Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation.”

Under the terms of the deal, JBS will operate Vivera as a standalone business unit, and will retain the company’s leadership team, who see a tie-in with JBS as advantageous to its brand.

“Joining forces with JBS gives us access to significant resources and capabilities to accelerate our current strong growth trajectory and Vivera brand expansion,” said Willem van Weede, CEO, Vivera.

– Lynda Kiernan is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Oilseed & Grain News. She can be reached at lkiernan@globalaginvesting.com.