JBS’ vegan portfolio is set to expand with the acquisition of Dutch plant-based meat brand, Vivera.
On Monday, the world’s largest meat supplier announced that it has entered into an agreement to acquire Vivera. The company is currently Europe’s third-largest vegan food producer. The deal is slated to include three manufacturing units and a research and development center based in the Netherlands. It is valued at approximately $410 million (€341 million).
Vivera develops and produces a broad range of innovative plant-based meat replacement products for major retailers in over 25 countries across Europe. It has a large presence in the Netherlands, the United Kingdom, and Germany. It has about €80 million in revenue.
“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.”
From Vivera’s perspective, the acquisition allows the vegan brand “access to significant resources and capabilities to accelerate our current strong growth trajectory and Vivera brand expansion”, according to Vivera CEO Willem van Weede.
However, the acquisition is still subject to regulatory approval.
Plant-Based Market Growth
JBS’ acquisition of Vivera comes as the plant-based market is in the midst of tremendous growth, as more people adopt flexitarian and vegan diets.
Per Boston Consulting Group, revenue from plant-based meat, eggs, and dairy alternatives is set to reach $290 billion by 2035. This represents an estimated 11 percent of the animal protein market.
JBS entered the plant-based space in 2019, and has developed various vegan products that have been released around the world.
The major meat supplier has a sizable footprint in Brazil, where it possesses 57 percent of the vegan burger market. It is the parent company of leading Brazilian meat processor Seara, which produces the plant-based Incrível range. Planterra Foods, a vegan startup owned by JBS USA, debuted the plant-based meat range OZO in summer 2020. And in Europe, JBS’ Moy Park subsidiary produces plant-based chicken burgers.
Similarly, meat producer Tyson Foods joined the plant-based market in 2019. It now has a range that includes vegan chicken nuggets. Major pork producer Smithfield has launched plant-based burgers, meatballs, and sausages through its Pure Farmland range. And Cargill launched a plant-based range in China in the summer of 2020.