GREELEY and LAFAYETTE — JBS USA, the domestic division of global meatpacking giant JBS SA, announced Monday that it is shutting down Planterra Foods Co., its plant-based foods unit based in Lafayette.
The closure was first reported by the Denver Business Journal.
Under the brand name Ozo, Planterra produced plant-based alternatives for chicken, bacon, turkey, meatballs, hamburgers, breakfast sausages and ground meats.
“JBS USA has made the decision to discontinue operations in its U.S.-based Planterra business unit,” said Nikki Richardson, director of corporate communications for JBS USA, in an email. “We continue to believe in the potential of plant-based options for consumers and remain committed to the alternative protein market. JBS will focus its efforts on its plant-based operations in Brazil and Europe, which continue to gain market share and expand their respective customer bases. We are actively working with the Planterra workforce to provide employment opportunities at other JBS locations.”
Planterra in December opened a 189,000-square-foot manufacturing facility in Denver that was to employ 200 people at full capacity.
While plant-based protein is projected to reach a 7.7% market share of protein products by 2030, the rate of growth is slowing, and some companies are exiting the market altogether; earlier this year, Kellogg Co. spun off its MorningStar Farms plant-based protein business.