Marfrig and ADM to form JV for plant-based food products

Brazilian beef producer Marfrig has signed an agreement with nutrition company ADM to create a new joint venture (JV) called PlantPlus Foods.

The proposed venture will be engaged in the sales and distribution of plant-based food products across South American and North American markets.

Marfrig founder and chairman Marcos Molina 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.

“PlantPlus Foods will be ready from day one to meet customer needs in this fast-growing market.”

According to the agreement, Marfrig will initially own 70% in PlantPlus Foods with ADM owning the remaining 30%.

Under this new partnership, Marfrig will manufacture and distribute plant-based food products from its facilities in South America and the US while ADM will provide technical expertise, application development 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 US-based ingredient and flavour facilities, including its new pea protein plant in Enderlin, North Dakota.

Both companies plan to launch the new JV and start operations after obtaining regulatory approvals.

ADM chairman and CEO Juan Luciano said: “ADM’s complete portfolio of ingredients, flavours and solutions from nature are a foundation for innovative, sustainable foods – including alternative proteins – around the world.

“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.”