Archer Daniels Midland (ADM) has announced plans to acquire European non-GMO soy ingredients group Sojaprotein.
Founded in 1977, Sojaprotein offers a variety of non-GMO soy ingredients for European and global customers in the meat alternative, confectionery, protein bar, pharmaceutical, pet food and animal feed segments.
“30 years ago, ADM invented the soy vegetable burger, giving rise to the plant-based protein segment,” said Leticia Gonçalves, ADM’s president of Global Foods. “Today, alternative proteins represent 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.
She continued: “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”.
