PlantPlus Foods is a new joint venture between ADM and Marfrig, a Brazilian beef producer. The companies already have a history of working together to develop and produce plant-based foods in South America. PlantPlus Foods will expand on that relationship in North America.
Marfrig will initially own 70 percent of PlantPlus Foods and ADM will own 30 percent. Marfrig will be responsible for production and distribution, using its facilities in South America and the United States. ADM will supply technical expertise, application development and plant-based ingredients, flavors and systems from its specialty-protein complex in Brazil and its network of U.S.-based ingredient and flavor facilities.
The demand for both plant proteins and animal proteins is growing across the globe, and Marfrig and ADM will continue individually to help meet those needs in the ways they do today, said Marcos Molina, founder and chairman of Marfrig.