USA – Marfrig, the second largest Brazilian food processing company and Chicago-based global nutrition company ADM 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.
The new joint venture biulds on Marfrig and ADM’s successful history of working together to develop and produce sustainable, plant-based foods in South America.
In August last year, the companies announced a partnership for the production and sale of plant-based protein products in Brazil. Now with PlantPlus Foods, ADM and Marfrig will expand on that successful relationship.
The new joint venture will be 70 percent owned by Marfri, with ADM owning 30 percent. 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 companies said that the joint venture will primarily focus on North and South America, though it will have the ability to serve customers in other global markets.
Marcos Molina, founder and chairman, Marfrig said that the companies’ expertise in their fields will provide the new joint venture with “unparalleled scale and singular expertise for offering plant-based products of the highest quality.”
“PlantPlus Foods will be ready from day one to meet customer needs in this fast-growing market,” Marcos added.
ADM Chairman and CEO Juan Luciano commented: “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.”
The two companies revealed that they will continue serving existing customers independently, supporting the sustainable development of the industry.
“Marfrig and ADM value and appreciate all of our customers, and this new company will not change our relationships or our commitment to meeting their needs,” said Gonçalves.
Marfrig and ADM plan to launch the new company and start operations as soon as required regulatory approvals have been received.