Kerry buys plant-based protein ingredients producer Pevesa

Kerry has expanded its non-allergenic and organic plant protein capability through the acquisition of Spanish company Pevesa Biotech.

Based near Seville, Pevesa Biotech offers organic pea and rice protein as well as protein hydrolysates. It has also developed a range of biofertilisers for fruit, olive and specialist garden growers.

The company’s products are used for applications such as nutritional supplements, protein waters and energy bars.

Kerry said the deal allows it to enhance its position in the hydrolysed plant protein space for specialised nutrition and expand its capacity to serve the rapidly growing organic plant protein market.

“Kerry is extremely pleased to bring the global expertise of Pevesa into our leading plant protein portfolio,” said John Reilly, VP business development proteins, Kerry.

“Kerry was attracted to Pevesa because of its expertise, innovation, high-quality manufacturing leadership and patented technology in the non-allergenic plant protein market.

“This will be a good fit with Kerry’s growing plant protein product portfolio, and Pevesa’s customers will benefit from the synergy between its market-leading technology and Kerry’s protein processing expertise.”

Citing figures from DataM Intelligence, Kerry said the global plant protein ingredient market is projected to grow at 6.6% per annum from 2018 to 2023.