ADM and Marfrig launch JV to sell plant-based food products

Nutrition company ADM and beef patty producer Marfrig have launched their joint venture (JV) called PlantPlus Foods to sell plant-based food products.

The JV will offer a wide range of food products across North and South America.

ADM chairman and CEO Juan Luciano said: “Consumers today are demanding food that is good for the environment, for the body, for the mind, and for the development of a better you – while still being delicious.

“Backed by the vast capabilities of ADM and Marfrig, PlantPlus Foods brings together a unique blend of innovation, scale, insight and expertise in this exciting, fast-growing market.”

Marfrig will own a 70% stake in the JV company while the remaining 30% stake will be held by ADM.

The beef patty producer will be responsible for production and distribution of finished product manufactured at its facilities in South America.

The finished products will be primarily produced at Marfrig facility in Várzea Grande, Mato Grosso, Brazil, as well at its facilities in the US.

On the other hand, ADM will be offering its technical expertise and a wide range of plant-based ingredients, flavours and systems from its speciality protein complex in Campo Grande, Mato Grosso do Sul.

ADM will also make use of its network of ingredient and flavour facilities in the US, including its new pea protein plant in Enderlin, North Dakota, to ensure the supply to Marfrig.

Marfrig founder and chairman Marcos Molina said: “We’re excited to take this important step forward as we bring together the tremendous resources of two leaders in nutrition.

“PlantPlus Foods is born of two companies that had a common vision to create a new venture offering a complete portfolio of delicious, sustainable plant-based foods for consumers across the Western Hemisphere.”