The agreement, signed on September 15, 2026, follows a memorandum of understanding announced in November 2025. Upon completion of the transaction, JBS S.A. and Viva Holding will each own 50 % of JBS Viva.
The new company will combine assets and activities related to the production, processing and commercialisation of leather. Viva will also contribute activities related to the manufacture and sale of chemical products used in leather processing.
Governance will be shared equally between the two partners. JBS Viva’s board will consist of up to six members, with three appointed by each shareholder. JBS will appoint the chairman and chief financial officer, while Viva Holding will appoint the chief executive officer and chief operating officer.
Not all existing leather assets of the two groups will form part of the transaction. According to JBS, its leather operations in Germany, Uruguay and Mexico, as well as the activities and inventories of its Cactus facility in Texas, will remain outside the joint venture. Collagen and gelatin activities of both groups are also excluded.
JBS and JBS Viva are additionally expected to enter into supply agreements under which JBS will provide the new company with raw hides from its Brazilian slaughterhouses. JBS Viva, in turn, will supply JBS with trimmings and shavings generated during leather processing for use in gelatin, collagen and related products.
When the venture was first announced in November 2025, JBS said the combined business was expected to process more than 20 million hides annually, operate 31 plants and employ more than 11,000 people across several countries. The definitive agreement announced in September 2026 does not restate these figures and defines a number of assets that will remain outside the transaction.
Completion of the deal remains subject to customary conditions precedent. No closing date or transaction value has been announced.
