Wednesday, September 22, 2021

ADM accelerates growth of alternative protein platform with Sojaprotein acquisition

Global nutrition specialist, ADM, has reached an agreement to acquire Sojaprotein, a European provider of non-GMO soy ingredients.

Established in 1977, Serbia-based Sojaprotein has sales into 65 countries, offering a wide array of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments.

The company had more than $100 million in sales in 2020.

“Thirty years ago, ADM invented the soy vegetable burger, giving rise to the plant-based protein segment. Today, alternative proteins represents one of our core growth platforms, and as this $10 billion global industry grows to $30 billion over the next decade, we are investing to expand our unparalleled capabilities,” said Leticia Gonçalves, ADM’s president of Global Foods.

“The addition of Sojaprotein – the largest producer of plant-based protein in southern Europe – adds production capacity in addition to an impressive network of customers who are leading the way in meeting consumer needs for nutritious and responsible plant-based foods and beverages.

“We’re particularly excited for the opportunity to work together to meet the fast-growing demand of European consumers who prioritize locally-sourced, non-GMO ingredients in their food and beverages.”

The addition would build on ADM’s recent investments in alternative proteins, including the company’s soy protein complex in Campo Grande, Mato Grosso do Sul, Brazil; its new pea protein plant in Enderlin, North Dakota; its PlantPlus Foods joint venture; and partnerships with innovative start-ups like Air Protein.

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