ADM and Marfrig to launch plant-based protein joint venture, PlantPlus Foods
Last year, the two companies partnered to launch a plant-based burger in Brazil with ADM supplying the ingredients and Marfrig manufacturing and distributing the products.
Under the new agreement, Marfrig will initially own 70% of PlantPlus Foods while ADM will own 30% of the venture. Marfrig will be responsible for production and distribution, utilizing its facilities in South America and the US. ADM will supply technical expertise, application development, and a variety of plant-based ingredients, flavors, and systems from its specialty protein complex in Campo Grande, Mato Grosso do Sul, Brazil, and its network of US ingredient and flavor facilities, including its pea protein plant in Enderlin, North Dakota.
“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, Marfrig.
ADM chairman and CEO John Luciano added: “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.”
“PlantPlus Foods will be ready from day one to meet customer needs in this fast-growing market.”
The joint venture will primarily focus on North and South America, though it will have the ability to serve customers in other global markets. The companies added they will both continue serving existing customers independently.
“The demand for proteins, from both plants and animals, is growing across the globe, and Marfrig and ADM will continue individually to help meet those needs in all the ways we do today,” added Molina.
Marfrig and ADM plan to launch the new company and start operations as soon as required regulatory approvals have been received.