JBS intends to expand its presence in the plant-based protein sector with the planned acquisition of European company Vivera.

JBS announced the plans in a material fact on its investor relations webpage, and Vivera announced the plans in a press release. Both stated that an agreement had been entered for JBS purchase all of the shares issued by Vivera, which has an enterprise value of EUR341 million (US$410 million).

Vivera is the third largest plant-based protein company in Europe, with a headquarters and three production facilities in the Netherlands. The company’s origins date back to 1990. Its distribution reaches more than 25 countries, with a relevant market share in the Netherlands, the United Kingdom and Germany.

Under the agreement, JBS will manage Vivera as a standalone business unit, and its current leadership team will remain in place. All three production units are also included in the deal.

With the acquisition of Vivera, the Brazil-based JBS would strengthen and boost its own plant-based products platform. JBS’ present offering of plant-based products includes Seara’s Incrivel range, which is a market leader in plant-based hamburgers, and Planterra Foods, which was launched in the United States under the brand name OZO