JBS and Viva merge in the name of leather. The Brazilian supergiant JBS Viva is born: 31 factories and over 11,000 employees in Brazil, Italy, Uruguay, Argentina, Mexico, and Vietnam. The new company will process more than 20 million hides per year. Here are the agreements and comments on the operation, which is destined to change the dynamics and balance of the market. By La Conceria.

JBS and Viva merge in the name of leather

The new company is called JBS Viva and is 50/50 owned by JBS and Viva shareholders, a company formed two years ago from the merger of the Viposa tannery and Vancouros-Vanz. The agreement to create the new company is still subject to certain conditions, including the signing of the final agreements and the approval of the relevant authorities. For now, the parties have signed a binding memorandum of understanding through which JBS and Viva shareholders have agreed to combine the two companies’ leather production and marketing assets. JBS will appoint JBS Viva’s chairman of the board and chief financial officer, while Viva shareholders will appoint the new company’s CEO and chief operating officer. According to JBS itself, the new company will process over 20 million hides annually, with 31 factories and more than 11,000 employees.