Marfrig and ADM launch plant-based joint venture
The collaboration, PlantPlus Foods, is expected to combine the experience of both companies for the sale of plant-based products in the North American and South American markets
Marfrig will initially own 70% of PlantPlus Foods, with ADM owning 30%. Marfrig will be responsible for production and distribution, utilising its facilities in South America, mainly in Várzea Grande, in the Brazilian state of Mato Grosso, and its facilities in the United States. ADM will supply technical expertise, application development and an array of plant-based ingredients, flavours and systems from its specialty protein complex in Campo Grande, Mato Grosso do Sul, and its network of US-based ingredient and flavour facilities, including its pea protein plant in Enderlin, North Dakota. The joint venture will primarily focus on North and South America, though it will have the ability to serve customers in other global markets.
“Marfrig’s production and distribution capacity and its experience and know-how in working with high-quality meat, combined with ADM’s technical and development excellence and its industry-leading plant-based ingredient and natural flavors portfolio, will provide our new joint venture unparalleled scale and singular expertise for offering plant-based products of the highest quality,” said Marcos Molina, founder and chairman of Marfrig. “PlantPlus Foods will be ready from day one to meet customer needs in this fast-growing market.”
“ADM’s complete portfolio of ingredients, flavors and solutions from nature are a foundation for innovative, sustainable foods – including alternative proteins – around the world,” said ADM Chairman and CEO Juan Luciano. “Over the last several years, we’ve invested strategically to build strong leadership positions in fast-growing trend areas. Now, by expanding our relationship with Marfrig, we’re taking the next step in meeting exploding consumer demand for alternative proteins.”
ADM’s president of global specialty ingredients Leticia Gonçalves added: “Consumers today are thinking about food in new ways, with the knowledge that delicious burgers and more can come from a variety of sources, including plants. We’re proud to supply major consumer product customers around the globe, including through our ADM Nutrition Solutions platform in Brazil, with a complete pantry of ingredients, flavors and solutions to meet their individual needs. And now, PlantPlus Foods will add to our capabilities, expanding our leadership position in a key growth market.”
Marfrig and ADM plan to launch the new company and start operations as soon as required regulatory approvals have been received.
