JBS and Grupo Viva announced the creation of JBS Viva, a new company that becomes a global leader in the leather sector by integrating the production and commercial operations of both groups. The agreement was formalized after approval by the JBS Board of Directors and the signing of a binding memorandum of understanding with Vanz Holding and Viposa, Viva’s shareholders.
The new company will have equal shareholding between JBS and Grupo Viva partners. Governance will be shared: JBS will appoint the board chair and CFO, while Grupo Viva will designate the CEO and COO. Completion of the operation will depend on negotiating definitive documents and meeting conditions typical for this type of transaction.
With 31 plants and more than 11,000 employees in Brazil, Italy, Uruguay, Argentina, Mexico and Vietnam, JBS Viva will process more than 20 million hides per year.
For JBS Global CEO Gilberto Tomazoni, the union creates a company “more robust and better prepared to compete globally,” combining more than 70 years of experience in the leather industry.
JBS Couros leader Guilherme Motta highlighted that leather remains a strategic pillar for the company, becoming — as a natural co-product of the bovine chain — items such as footwear, accessories, automotive upholstery and furniture.
Source: Estadão.
