Sao Paulo, Brazil and Chicago, IL - Marfrig (B3:MRFG3 and Level 1 ADR: MRRTY) and ADM (NYSE: ADM) today announced the completion of regulatory approvals and the formal launch of PlantPlus Foods, a joint venture that will offer a wide range of finished plant-based food products across North and South America, backed by unmatched technology, scale and experience.
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“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, 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.”
The Chicago-based joint venture will serve customers with a focus on North and South America, with the ability to reach other global markets.
“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, ADM Chairman and CEO.
“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, one of the world’s leading beef producers and the world’s largest beef patty producer, owns 70 percent of the venture; ADM, a leading global nutrition company, is a 30 percent owner.
Marfrig 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.
ADM will supply innovative 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 U.S.-based ingredient and flavor facilities, including its new pea protein plant in Enderlin, North Dakota.
For more information, please contact Jackie Anderson at 312-634-8484.