Brazilian meat giant JBS to close its US subsidiary dedicated to plant-based substitutestwo years after launching its first products, a spokeswoman for the group said Monday.
The company prefers to “concentrate its efforts on plant-based operations in Brazil and in Europe, (where) they continue to gain market shares and expand their customer base”indicated the spokesperson.
“We continue to believe in the potential of plant-based options for consumers and remain committed to the alternative protein market,” he said.
The JBS representative did not respond to questions about whether the decision was due to disappointing sales in the United States.
JBS launched the first products from Planterra Foods, its Colorado-based subsidiary, in spring 2020 under the OZO brand.with vegetable equivalents of hamburgers or ground beef.
JBS products in the US under its Ozo brand.
On September 22, the group announced two new deals with the Gregory’s Coffee and Veggie Grill chains.
After growing, particularly at the start of the pandemic, interest in meat alternatives waned.
The Beyond Meat start-up, which entered Wall Street with great pomp in 2019, lost momentum, with revenues stagnating in the first half. Its stock has actually fallen 75% since the beginning of the year.
Source: AFP
