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#8 Meat processing giant JBS invests $100 million in cultivated meat startup

In Spain, leading meat processor JBS is taking a majority stake in cultured meat startup BioTech Foods.

The deal, which marks JBS’s entry into to the lab-grown meat market, is part of a $100 million investment in the sector. Just over $40 million of the funds will be used to construct a 1,000 tons/year cultivated meat plant in Spain, and there are also plans for an R&D center in Brazil.

“This acquisition is an important step to strengthen our global plant-based protein platform. Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation.” Gilberto Tomazoni, the global CEO of JBS, says in a statement.

JBS reports about $50 billion annually from processing beef, chicken, pork, and byproducts.

More on the story, here.