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JBS Is Entering the Cultivated Protein Market with the Acquisition of Biotech Foods and the Construction of A Plant in Europe

11/18/2021 | 09:00am EST

JBS entered into an agreement to acquire control of Spanish company BioTech Foods. The deal signals the company's entry into the cultivated protein market, which consists of producing food from animal cells and includes investment in building a new plant in Spain to scale up production. Along with the acquisition, JBS is also announcing the setting up of Brazil's first cultivated protein research & development (R&D) center. In all, JBS will channel US$ 100 million to the two projects. Under the terms of the deal, JBS becomes the majority shareholder of BioTech Foods. The deal enables both companies to pool their strengths and accelerate the development of the cultivated protein market. JBS will have access to BioTech Foods technology and protein production capability while providing the industrial processing capacity, marketing structure and sales channels to bring the new product to market. When commercial operations begin, the cultivated protein will reach consumers in the form of prepared foods, such as hamburgers, steaks, sausage meats, and meatballs, among others, with the same quality, safety, taste and texture as traditional protein. The technology has the potential not only for the production of beef protein, but also chicken, pork and fish.

ę S&P Capital IQ 2021
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Analyst Recommendations on JBS S.A.
More recommendations
Sales 2021 343 B 62 500 M 62 500 M
Net income 2021 15 789 M 2 875 M 2 875 M
Net Debt 2021 51 546 M 9 385 M 9 385 M
P/E ratio 2021 4,91x
Yield 2021 5,29%
Capitalization 83 654 M 15 203 M 15 232 M
EV / Sales 2021 0,39x
EV / Sales 2022 0,38x
Nbr of Employees 250 000
Free-Float 34,5%
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Technical analysis trends JBS S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 13
Last Close Price 35,83 BRL
Average target price 48,52 BRL
Spread / Average Target 35,4%
EPS Revisions
Managers and Directors
Gilberto Tomazoni Chief Executive & Operating Officer
Guilherme Perboyre Cavalcanti Chief Financial & Investor Relations Officer
Jeremiah Alphonsus O'Callaghan Chairman
Eliseo Santiago Perez Fernandez Director-Administration & Control
Cledorvino Belini Independent Director
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