JBS shares were up 4% on Monday afternoon as analysts cheered the meatpacker's move into the fast-growing, value-added vegetarian sector. JBS "is back in M&A mode," BTG Pactual wrote in a client note, highlighting that the company has now announced six acquisitions in the last two years.
JBS Chief Executive Gilberto Tomazoni said that Vivera will give the Brazilian company more exposure to the meatless segment. The acquisition will add to JBS' Planterra unit that sells the OZO brand and its Seara unit's Incrível line in Brazil. "The acquisition makes strategic sense, to greatly accelerate our strategy in the plant-based segment."
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