Moolec, a science-based food ingredient company focused on producing animal proteins in plants through molecular farming, has announced the acquisition of plant-based food ingredient capabilities dedicated to the production and commercialisation of functional soy proteins. This will accelerate Moolec’s growth in the food ingredients industry by expanding its commercial network with a sales team and complementing its molecular farming platform with industrial capacity, downstream operations, and a team of professionals.
“This strategic decision accelerates our business plan’s execution by combining existing commercial and manufacturing capabilities in different geographies, with the deep-science approach of our Molecular Farming Platform. As a result, Moolec is well-positioned to accelerate its sales ramp ahead of schedule starting in the 2023/2024 period with estimated revenues in the range of $6m,” said José López Lecube, Moolec Science’s CFO.
These food ingredient capabilities resulting from the integration of ValoraSoy include industrial facilities with a processing capacity of 10,000 tons located in one of the main Argentine soybean corridors; a team of technicians, engineers, agronomists, and plant-based professionals; and commercial channels in more than 14 countries on three different continents.
Henk Hoogenkamp, CPO and co-founder of Moolec, declared: “We believe plant-based technologies and Molecular Farming taken together have the power to contribute towards global food security. Moolec is developing the plant-proteins of the future by using highly efficient high-protein crops, in this case soybeans, to produce a wide variety of proteins naturally found in animals. Combining these crops with ValoraSoy’s capabilities, we can accelerate our technology rollout but also specifically target certain solutions by incorporating real-time feedback from existing customers around the globe. Leveraging this position, we can consolidate our Molecular Farming platform and lower the cost of protein-rich foods as we drive functionality, nutrition, and affordability for the up-and-coming economies of the world.”
The transaction contemplates acquiring 100% of ValoraSoy in exchange for $6m, of which approximately $2.5m is paid in cash, and the rest is paid with Moolec’s shares in three years based on vesting and business metrics. Pursuant to the share purchase agreement, the company will retain a portion of the purchase price for a period of 12 months after signing of the transaction documents. The payment in shares is subject to vesting and the achievement of business milestones over a period of three years.