Multinational JBS invests €36 million in BioTech Foods through capital increase

Cuatrecasas has advised BioTech Foods on incorporating Brazilian company JBS in its share capital, with an initial €36 million investment structured with the subscription of shares in the Spanish company’s capital increase. With this transaction, JBS—the largest protein producer in the world—becomes the main partner of the Basque producer of so-called cultured meat.

With the entry of JBS, the Basque company secures the financing needed through its own funds to develop a cultured meat industrial plant that will be unique in the world. This first investment by the Brazilian group in the Iberian market will enable the new factory to be installed in Gipuzkoa, near its current R&D center in San Sebastián. It is scheduled to open its doors in 2024, when it plans to start marketing the meat products.

The firm’s team handling the project was made up of Corporate lawyers Pablo Paisán, Andrew Ward and Marina Pérez-Sasia.