Brazilian company JBS SA, the world’s biggest meat producer, has made its first foray into the egg sector at a time when concern over the global spread of bird flu is buoying prices.

Brazilian protein giant JBS has entered the egg production sector through an investment agreement to acquire a stake in Mantiqueira Alimentos. JBS said in a statement it is taking a 50% interest in Mantiqueira, with control of the business shared with its founder Leandro Pinto.

JBS has acquired a 50 percent stake in Mantiqueira Brasil, the largest egg producer in South America, marking its entry into the industry. Control of the business will be shared with the company’s founder Leandro Pinto.

JBS announced its entry into the egg protein segment with the acquisition of 50% of Estrada do Jardim, Brazil-based Mantiqueira Brazil, the largest egg producer in South America. The acquisition strengthens JBS’s global platform and will allow the company to continuously grow.

JBS S.A., the Brazilian meatpacking giant, is expanding its horizons with the acquisition of a 48.5% stake in Mantiqueira Alimentos, Brazil’s leading egg producer. This move, disclosed in a recent securities filing,

Brazilian meatpacker JBS has agreed to buy a stake in Mantiqueira Alimentos, it said on Monday, marking the food giant's entry into the egg sector in a deal that valued Mantiqueira at 1.9 billion reais ($321 million).

Brazilian meat producer JBS has acquired a 50% stake in one of South America's largest egg producers, Mantiqueira Brasil. Why it matters: This comes amidst a global surge in egg prices due to avian flu outbreaks.