Brazilian meat company Marfrig and ADM have formed a new joint venture company that will offer plant-based food products across North American and South American markets.
Marfrig will initially own 70% of PlantPlus Foods and will be responsible for production and distribution, while ADM will own the remaining 30% and will supply the primary raw materials needed.
The joint venture expands on the companies’ existing working relationship which saw them develop and produce sustainable plant-based foods in South America such as plant-based burgers.
Marfrig will utilise its facilities in Várzea Grande, in the Brazilian state of Mato Grosso as well as those in the US. Meanwhile, ADM will supply technical expertise, application development and an array of plant-based ingredients, flavours and systems from its protein plant in Campo Grande and its network of US-based facilities, including its new pea protein plant in Enderlin, North Dakota.
Although the joint venture will primarily focus on North and South America, the companies claim it will have the ability to serve customers in other global markets.
“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,” said Leticia Gonçalves, ADM’s president of global specialty ingredients.
She added: “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, 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.”
Marcos Molina, founder and chairman of Marfrig, said:“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 flavours portfolio, will provide our new joint venture unparalleled scale and singular expertise for offering plant-based products of the highest quality.”
Marfrig and ADM plan to launch PlantPlus Foods and start operations as soon as required regulatory approvals have been received.
The two companies will continue serving existing customers independently.
© FoodBev Media Ltd 2020