Indonesia’s sovereign wealth fund will take a 25 per cent stake in JBS’s Australian and New Zealand operations, with Danantara Investment Management paying $3.5 billion (US$2.5 billion) in equity under a joint venture that gives the world’s largest protein producer up to US$5 billion to fund regional expansion.
Subject to Australian regulatory approvals, beyond the equity investment, the joint venture is expected to provide incremental investment capacity of a further US$2.5 billion, bringing total available capital to around $7.1 billion to fund acquisitions, greenfield investments and other growth opportunities across Indonesia, Australia, New Zealand and South-East Asia.
JBS Australia CEO, Brent Eastwood, said the deal would not change how the local business runs.
“This investment is a strong endorsement of JBS Australia’s proven track record in establishing and growing food businesses throughout Australia, New Zealand and around the world.
“Under the structure of the partnership, JBS Australia’s operations remain unchanged. Existing management retains day-to-day control, and nothing changes for our 17,000 team members, customers and producer partners,” Eastwood said.
JBS Australia is the country’s largest meat processor and has ranked second on the Food & Drink Business Australia’s Top 100 Food & Drink Companies report for successive years. Its most recent local deal was the acquisition of Queensland foodservice wholesaler Prime Cut Meats through Andrews Meat Industries in November 2025.
JBS said the venture is designed to expand its investment capacity, accelerate regional growth and use its Australian operations as a platform to scale in South-East Asia, a region of around 745 million people, according to the ASEAN Secretariat.
JBS Global CEO, Gilberto Tomazoni, said the partnership was part of the company’s long-term strategy of geographic diversification, branded and value-added products, sustainable growth and shareholder returns.
“As a cornerstone of the broader JBS global platform, our Australia and New Zealand footprint provides strong operations, world class standards, and significant growth potential. Together with Danantara, we are well positioned to expand our presence across Indonesia and Southeast Asia, strengthen regional protein supply chains, broaden market access, and accelerate the development of Indonesia’s protein sector,” Tomazoni said.
The deal comes amid structural growth in global protein demand. OECD and Food and Agriculture Organization projections have global meat consumption rising through 2034, with estimated growth of 21 per cent for poultry, 16 per cent for sheep meat, 13 per cent for beef and 5 per cent for pork, with Indonesia, the Philippines and Vietnam among the countries expected to drive demand.
Indonesia is also a key market in the global halal food segment, which DinarStandard valued at around US$1.43 trillion in 2023 and projects to reach US$1.94 trillion by 2028.
“We are building a stronger platform to capture long-term growth in global protein consumption. At the same time, we are creating the conditions to expand our presence in Asia, one of the industry’s most dynamic regions,” Tomazoni said.
Danantara is being advised by PwC, BCG, A&O Shearman and Barrenjoey. JBS is being advised by EY, De Brauw Blackstone Westbroek and MinterEllison.
