Marfrig and ADM unveil PlantPlus Foods joint venture
New joint venture combines the experience and expertise of both companies for the sale of plant-based products in the North and South American markets.
ADM has sealed an agreement with Marfrig, a beef producer, to create PlantPlus Foods, a joint venture for the sale of plant-based food products across North and South American markets.
Marfrig and ADM already have a successful history working together to develop and produce sustainable, plant-based foods in South America. Now, PlantPlus Foods will expand on that successful relationship.
Marcos Molina, founder and chairman for Marfrig, commented: “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 plant-based ingredients and natural flavours portfolio, will provide our new joint venture unparalleled scale and singular expertise for offering pant-based products of the highest quality. PlantPlus Foods will be ready from day one to meet customer needs in this fast-growing market.”
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 US. 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 new 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.
Leticia Gonçalves, president, global specialty ingredients, ADM, concluded: “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 to customers around the globe, including through our ADM Nutrition Solutions platform in Brazil, with a complete pantry of ingredients, flavours 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.”