Marfrig, one of the world’s largest beef producers and the world’s largest beef patty producer, and Archer Daniels Midland (ADM) announced Oct. 26 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.
Marfrig owns 70% of the venture, and ADM owns 30%. Marfrig will be responsible for finished product production and distribution, utilizing its facilities in South America, mainly in Várzea Grande, in the state of Mato Grosso, Brazil, and its facilities in the U.S. 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, Brazil, and its network of U.S.-based ingredient and flavor facilities, including its new pea protein plant in Enderlin, N.D.
“We’re excited to take this important step forward as we bring together the tremendous resources of two leaders in nutrition,” Marfrig founder and chairman Marcos Molina said. “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, Ill.-based joint venture will serve customers with a focus on North and South America and will have 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,” ADM chairman and chief executive officer Juan Luciano said. “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.”