Brazil’s JBS aims to exit its meat snacks joint venture with U.S.-based Jack Link’s, which was established in 2010. This strategic move reflects the evolving landscape of the food and beverage industry trends.
JBS has submitted a request to Brazil’s competition authority, the Administrative Council for Economic Defense (CADE), to clear the transaction since the Meat Snack Partners joint venture is registered locally. This step underscores JBS’s commitment to restructuring in response to contemporary food and drink consumer trends.
In the CADE documents provided by JBS to Just Food, it’s noted that Jack Link’s is represented by LSI Inc., based in Minneapolis, Minnesota, which is set to purchase the Brazilian company’s stake. Additionally, Troy Link, the son of Jack Link’s founder and current CEO, is identified as a buyer in this transaction.
As of this writing, privately-owned Jack Link’s had not responded to Just Food’s inquiry regarding the buyout.
When this joint venture was first announced in 2010, Jack Link’s intended to produce meat snacks at two of JBS’s facilities located in São Paulo, Brazil, catering to the U.S. and other international markets. Under the agreement, JBS was responsible for supplying the raw ingredients, while the production operations were to be collaboratively managed by both companies.
Jack Link’s also made headlines last year when it acquired Kooee! All Natural Snacks through its Asia-Pacific business unit. Kooee!, co-launched in 2015 by Shaun Malligan, specializes in “natural” beef and chicken jerky snacks and is headquartered in Launceston, Tasmania.
Furthermore, in 2020, Wisconsin-based Jack Link’s expanded its portfolio with the acquisition of Golden Island Jerky from Tyson Foods. This growth aligns with Jack Link’s strategy to enhance its offerings in the competitive food and drink business.
The company now boasts an extensive product range that includes its signature beef, turkey, and chicken jerky, in addition to Golden Island, Kooee!, Lorissa’s Kitchen, Wild River, and Country Fresh Meats.
