French insect protein company Ÿnsect has acquired Protifarm, a producer of mealworm ingredients for human food applications.
Based in Ermelo, the Netherlands, Protifarm is a vertical farm producing more than 1,000 metric tons of food ingredients annually.
Ÿnsect claims that the acquisition of Protifarm – which brings nearly 40 years of insect breeding experience – solidifies its position as ‘the world’s largest’ insect food and feed player.
The deal enables Ÿnsect to expand its mealworm production capacity and adds a second mealworm species to the company’s portfolio.
Ÿnsect is expanding into the market for insect-derived food ingredients for humans, after the European Food Safety Authority deemed yellow mealworms safe for human consumption earlier this year. The company also produces ingredients for pet and fish food, as well as insect-based fertiliser.
Protifarm already has established food customers in countries including the Netherlands, Denmark and Belgium, and Ÿnsect says that the firm’s Novel Food application, like its own, is expected to receive EU approval in the near future.
“Protifarm is a compelling fit for Ÿnsect, perfectly matching our long-term goals and sustainability values,” said Antoine Hubert, co-founder and CEO of Ÿnsect.
“Acquiring Protifarm is a strategic next step for us, strengthening Ÿnsect’s leading position in the global market and allowing us to properly address the human and pet food markets with complementary products.”
Tom Mohrmann, CEO of Protifarm, added: “The evolution of a more sustainable intake of nutrition is only at its beginning, but the demand for products meeting these standards is set to grow exponentially in the coming years. The consolidation of Protifarm with Ÿnsect will expand our scale to meet this demand globally.”
© FoodBev Media Ltd 2020
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