Bunge Buys Stake in Australian Plant Proteins for $45.7M to Meet Demand for Non-GMO Plant Proteins
One year after Bunge bought a stake in Merit Functional Foods last year for C$30 million, the global grain trader has now acquired a minority stake in Australian Plant Proteins (APP) for $45.7 million.
The deal, which both companies state is to meet the increased demand for non-GMO plant proteins for foods, beverages, and nutritional supplements, also includes the option for Bunge to license APP proprietary processing technology outside of Australia.
Bunge will play a key role in APP’s global sales and distribution as its exclusive distributor in the Americas, and will provide downstream application resources through its Creation Solutions Center.
Founded in 2016 by Melbourne-based ag investment manager EAT Group, APP uses a proprietary fractionation process to create isolates used in the production of yogurts, milks, meat alternatives, protein bars, shakes, sauces, condiments, baked goods, and protein supplements that are designed to help brands of all sizes grow along with the plant-based trend.