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The Holding J&F, Valued in Billions, Announced an Investment of R$ 535 Million in Eletronuclear and Reinforces the Dominance of the Batista Brothers in Global Sectors
The story of the brothers Joesley and Wesley Batista is a portrait of the meteoric rise of a small business from Goiás that transformed into a billion-dollar empire with international reach. The holding J&F Investimentos, controlled by the duo, announced on Wednesday (15) the purchase of a stake in Eletronuclear for R$ 535 million, marking its entry into the nuclear energy sector and consolidating an already diversified presence in more than 50 brands and eight major businesses spread across different continents.
From a Butcher Shop in Goiás to Global Dominance in Proteins
The origin of J&F dates back to 1953, when José Batista Sobrinho, the “Zé Mineiro”, opened the small butcher shop Casa de Carnes Mineira in Anápolis (GO). The modest operation, based on buying and selling cattle, soon evolved into a network of slaughterhouses and meatpacking plants. In 1975, the business was renamed: Friboi, a brand that would become synonymous with Brazilian beef worldwide.
With the entry of the second generation of the family in the 1980s, the company underwent a phase of professionalization and accelerated growth. The turning point came in the 2000s, when the group began an aggressive internationalization process. The acquisition of Swift Armour in Argentina was the first step in creating a true empire of animal protein.
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In the following two years, the conglomerate acquired six additional meatpacking plants in the neighboring country and then expanded into the United States and Europe. In 2007, the name JBS officially began to represent the global brand. That same year, the company conducted its initial public offering (IPO), raising R$ 1.6 billion and entering the B3 and the New York Stock Exchange (NYSE). Today, JBS has an estimated market value of R$ 70 billion, making it one of the largest meat processors in the world.
Billion-Dollar Diversification and International Expansion
Starting in 2010, J&F diversified its portfolio, advancing in sectors such as finance, energy, pulp, technology, and mining. The holding also expanded its presence in retail and consumer goods, creating Flora Hygiene and Cosmetics, and extended its business to over 20 countries.
With operations ranging from agribusiness and communication to financial and industrial services, the conglomerate became one of the largest business powers in Latin America. According to information released by G1, the group controls eight major businesses and dozens of brands, which includes an extensive chain of food production and distribution of food and derived products.
The entry into the nuclear energy sector, through the purchase of a stake in Eletronuclear, represents another strategic move to strengthen J&F’s presence in sectors considered strategic for the future. The acquisition of R$ 535 million reinforces the holding’s investment capacity and broadens the reach of its global operations.
Political Scandals and Judicial Turnarounds
However, the trajectory of the Batista brothers is also marked by political scandals and investigations. In 2017, a bombshell plea bargain revealed that Joesley and Wesley Batista recorded then-President Michel Temer authorizing payments to keep the silence of Eduardo Cunha, former Speaker of the House, imprisoned in the Lava Jato Operation.
Furthermore, Joesley delivered to the Federal Public Ministry an audio in which Aécio Neves (PSDB-MG) asked for R$ 2 million to pay for lawyers. At the height of the crisis, the brothers admitted to having bribed around 1,800 politicians, and JBS’s revenue soared from R$ 4 billion in 2006 to R$ 170 billion in 2016 — a staggering growth that caught the attention of the financial world.
The two ended up removed from leadership of JBS and imprisoned under accusations of using insider information. They were later acquitted in the process. In 2023, the Supreme Federal Court (STF) suspended the fine applied to J&F in the leniency agreement, after indications of undue bias by prosecutors. The case still awaits a final decision in court.
A Billion-Dollar Empire in Motion
Currently, Joesley and Wesley Batista rank among the ten richest billionaires in Brazil, according to Forbes magazine. Even after the scandals, the conglomerate continues to experience constant expansion, exploring new economic fronts and reaffirming its global influence.
From a small meatpacking plant in Goiás to nuclear energy, the Batista family’s empire demonstrates how strategic vision, capital, and political power can transform a local company into one of the largest private groups in the world. And, by all indications, J&F’s expansionism is still far from over.
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