JBS enters the cultivated protein market with $100m investment

JBS has agreed to acquire a majority stake in BioTech Foods and unveiled plans to build an R&D centre in Brazil, representing an overall investment of $100 million.

Spanish company BioTech Foods develops technology to produce cultured meat and the deal includes investment in building a new plant in Spain to scale up production. The company operates a pilot plant in San Sebastián and expects to reach commercial production in 2024. The investment in the new facilities is estimated at $41 million.

The deal means JBS will have access to BioTech Foods’ technology and protein production capabilities, while the Brazilian meat giant will provide the industrial processing capacity, marketing structure and sales channels to bring the new product to market.

Gilberto Tomazoni, global CEO of JBS, said: “This acquisition strengthens our strategy of innovation, from how we develop new products to how we commercialise 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.”

JBS also plans on investing in a cultivated protein research centre in Brazil, which is due to be inaugurated in 2022. The plant will be led by experts in chemical engineering and will work on the development of leading-edge technologies for the food industry.

The company intends to develop new techniques that accelerate and reduce the costs of producing cultivated protein, accelerating its availability to the market.