CHICAGO — Archer Daniels Midland Co. and Marfrig received regulatory approval for its PlantPlus Foods joint venture. It will offer a range of finished plant-based food products across North America and South America.
“We’re excited to take this important step forward as we bring together the tremendous resources of two leaders in nutrition,” said Marcos Molina, founder and chairman of Marfrig. “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.”
Marfrig is a beef and beef patty producer that owns 70% of the PlantPlus Foods joint venture and will be responsible for finished product 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.
“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,” said Juan Luciano, chairman and chief executive officer of ADM. “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.”
ADM owns 30% of the joint venture and 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, ND.
In May, ADM and Marfrig announced their intention to launch PlantPlus Foods and start operations following approval.