JBS, the world’s largest meat processor, is shutting down Planterra, its plant-based protein business. The company’s first brand, OZO Foods, is manufactured in Lafayette, CO, and the news was first reported by the Denver Business Journal. The announcement comes just about a week after the company announced its first two partnerships in commercial foodservice.

OZO products made their debut in April 2020, and the Denver-area manufacturing headquarters opened less than a year ago. The closure will impact about 120 jobs.

The plant-based market has struggled recently. In late 2021, after two years of growth, sales of plant-based meat products started to slow down, which IRI’s Chris DuBois speculated was due to questions about their sustainability and the cleanliness of their labels. This year, concerns over rising prices are causing consumers to be more traditional, rather than trendy, in their food choices and also to purchase fewer high-priced products.