Indonesia Sovereign Fund Invests USD$2.5 Billion in Joint Venture with JBS

JBS has formed a strategic partnership with Danantara Investment Management, the investment arm of Indonesia’s sovereign wealth fund, and intends to expand its presence across Indonesia, Australia, New Zealand and other Southeast Asian markets. The transaction includes a USD$2.5 billion equity investment by Danantara for a 25% stake in JBS’s Australia and New Zealand operations.

In addition to the equity contribution, the joint venture is expected to provide incremental investment capacity of USD$2.5 billion, bringing total available capital to up to USD$5 billion to fund acquisitions, greenfield investments and other growth opportunities across Indonesia, Australia, New Zealand and Southeast Asia.

The region combines population scale, rising incomes, urbanization and increasing protein consumption. Official data from the ASEAN Secretariat show that the region reached approximately 745 million people in 2024. The initiative is designed to expand JBS’s investment capacity, accelerate regional growth and leverage its Australian operations as a platform to scale in markets considered strategic for global protein consumption. Australia remains a core pillar of JBS’s geographic diversification, with strong export positioning and a key role in balancing JBS’s global results.

“Our partnership with Danantara Indonesia marks an important step in our long-term growth strategy in Southeast Asia. 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,” said Gilberto Tomazoni, Global CEO of JBS.

According to Tomazoni, the move is aligned with JBS’s long-term strategy, focused on geographic diversification, branded and value-added products, sustainable growth and shareholder returns.
“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,” said Brent Eastwood, CEO of JBS Australia.

The transaction comes amid structural growth in global protein demand. Projections from the OECD and the Food and Agriculture Organization indicate that global meat consumption is expected to increase through 2034, with estimated growth of 21% for poultry, 16% for sheep meat, 13% for beef and 5% for pork. The report also highlights countries such as Indonesia, the Philippines and Vietnam among those expected to drive demand.

Indonesia is also a key market in the global halal food segment, which has become increasingly relevant for the protein industry. According to DinarStandard, the global halal food market was valued at approximately USD$1.43 trillion in 2023 and is projected to reach USD$1.94 trillion by 2028, driven by population growth and increasing demand for certified products.

“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,” said Tomazoni.

The transaction is subject to required Australian regulatory approvals and customary conditions for transactions of this nature.

Danantara is being advised by PwC, BCG, A&O Shearman and Barrenjoey. JBS is being advised by EY, De Brauw Blackstone Westbroek N.V. (the Netherlands) and MinterEllison (Australia).

• JBS
• JBS Australia