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 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).

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,

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.

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.