JBS SA, the owner of poultry brand Pilgrim?s Pride Corp., is emerging as the frontrunner to buy Dutch plant-based food producer Vivera, according to Bloomberg
The purchase would help JBS, the world’s biggest meat supplier, tap into booming consumer demand for animal-product substitutes. Expanding in this area can also allow traditional food companies to address their sustainability footprint amid increasing pressure from environmentally-conscious investors.
Meatpackers like JBS have been trying to move past what’s been a difficult period for the industry during the coronavirus pandemic. Companies struggled last spring to contain Covid-19 outbreaks among workers, forcing many plants to reduce output, and JBS had to send thousands of U.S. employees home last year.
Industry revenue from plant-based meat, eggs and dairy alternatives are set to reach $290 billion by 2035, or 11% of the animal protein market, according to Boston Consulting Group.
