In order to supplement and expand its cultivated protein portfolio, JBS Foods is completing acquisition of Spanish company BioTech Foods. It is also planning to build a new plant in Spain to ramp up production and Brazil’s first cultivated protein research and development (R&D) center, investing as much as $100 million in these projects.
JBS will become the majority shareholder of BioTech Foods, combining each company’s strengths to accelerate the development of the cultivated protein market. The latter business is supported by the Spanish government and European Union, and will provide production capability, industrial processing capacity, and marketing and sales channels.
“This acquisition strengthens our strategy of innovation, from how we develop new products to how we commercialize them, to address the growing global demand for food. Combining technological know-how with our production capacity, we will be in a position to accelerate the development of the cultivated protein market”, Gilberto Tomazoni, Global CEO of JBS shares.
“We are expanding our global platform to address the new trends in consumption and the growth of the global population. The acquisition of BioTech Foods and the new research center put JBS in a unique position to push ahead in the cultivated protein sector”, adds Tomazoni.
Further, JBS will inaugurate the 10,000-square meter Brazil-based R&D centre in 2022. Housing 25 researchers, the space will witness the development of new techniques and leading-edge technology for the food industry. The goal is to make the commercialisation of cultivated protein possible in the near future, making it available in prepared beef products such as hamburgers and steaks, and cover chicken, pork and fish protein.
JBS has been making strides in cementing its position in the industry, after acquiring independent plant-based food tech company Vivera and Huon, a salmon producer in Australia.