ADM and Marfig have announced an agreement to create PlantPlus Foods, a joint venture for the sale of plant-based food products across South American and North American markets.
PlantPlus Foods will be controlled by both companies, with Marfig owning 70% and ADM owning 30%.
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The new company is planned to launch and start operations as soon as required regulatory approvals have been received. PlatPlus Foods will be controlled by both companies, with Marfig owning 70% and ADM owing 30%.
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Marfrig, a beef producer and the world’s largest beef patty producer, 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.
Responsibilities for Marfig are production and distribution, utilizing 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, flavors and systems from its specialty protein complex in Campo Grande, Mato Grosso do Sul, and its network of U.S.-based ingredient and flavor 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. Both companies will continue serving existing customers independently, supporting the sustainable development of the industry.
“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,” Marcos Molina, founder and chairman of Marfrig, said. “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,” ADM chairman and CEO Juan Luciano said. “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.”
“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,” Leticia Gonçalves, ADM’s president, global specialty ingredients, said. “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.”