Brazilian meatpacker JBS has purchased Vivera, the third largest plant-based food company in Europe, in a deal worth about 341 million euros ($410 million).

According to a release, Vivera “develops and produces a broad range of innovative plant-based meat replacement products for major retailers in over 25 countries across Europe, with relevant market share in the Netherlands, the United Kingdom and Germany. The transaction includes three manufacturing facilities and a research center in the Netherlands.

“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.”

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

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JBS plans to operate Vivera as a stand-alone business and leave the current leadership team in place. JBS notes the acquisition will allow Vivera to join “other JBS initiatives such as Seara’s Incrível line, a market leader in plant-based hamburgers in Brazil, and Planterra, with the OZO brand in the United States.”

While the deal has been approved by the JBS board, it remains subject to approval by the necessary antitrust authorities.

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