Chicago, IL—ADM has reached an agreement to acquire Sojaprotein, a European provider of non-GMO soy ingredients.
“This agreement testifies to the sustainable business models that MK Group is implementing, as an investment company with a diversified portfolio of value-added industries in Southeastern Europe,” said Aleksandar Kostić, vice president of MK Group, the majority owner of Sojaprotein. “This is yet another confirmation of the proven track record of our management, as well as the global recognition of the world-class quality of our non-GMO soybean products.”
Sojaprotein has sales in 65 countries, offering non-GMO ingredients for its customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments, according to a press release. The company had more than $100m in sales in 2020.
The addition would build on ADM’s recent investments in alt 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 startups like Air Protein.
“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. We’re looking forward to bringing this successful, growing provider together with ADM’s global footprint, consumer insights and innovative technologies.
“Consumers today are looking for more from their foods and drinks – they want great tasting products and sustainable sources of proteins,” Gonçalves continued. “ADM is in a unique position to meet those needs: Our global, integrated value chain, which stretches from the farm gate to the dinner table, and our unmatched portfolio of ingredients and solutions, are why we are the partner of choice for customers at every step of the food and agriculture value chain. And as today’s announcement demonstrates, we’re not content to stop there. We’re focused on continued growth, and we’re excited about the opportunities ahead.”