Marfrig, ADM Unveil PlantPlus Foods, a Joint Venture Offering Plant-Based Food Products
New joint venture combines the experience of both companies for the sale of plant-based products in the North American and South American markets
Marfrig and ADM 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.
Marfrig, one of the world’s leading beef producers and the world’s largest beef patty producer, and ADM, a leading global nutrition company, 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.
Marfrig will initially own 70% of PlantPlus Foods, with ADM owning 30%. Marfrig will be responsible for 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 US-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.
The two companies will continue serving existing customers independently, supporting the sustainable development of the industry.
Marfrig and ADM plan to launch the new company and start operations as soon as required regulatory approvals have been received.
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