CHICAGO--(BUSINESS WIRE)--Global nutrition leader ADM (NYSE: ADM) announced today that it has reached an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients.
Established in 1977, Serbia-based Sojaprotein has sales into 65 countries, offering a wide array of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments. The company had more than $100 million in sales in 2020.
“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.”
“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. 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,” said Aleksandar Kostić, vice president of MK Group, the majority owner of Sojaprotein.
The addition would build on ADM’s recent investments in alternative 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.
“Consumers today are looking for more from their foods and drinks – they want great tasting products and sustainable sources of proteins,” Gonçalves added. “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.”
The transaction is subject to regulatory approvals.
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
About MK Group
MK Group is South-East Europe’s leading investment group, operating more than 70 companies in the agri-food, banking, hospitality, real estate and renewable energy sectors. The group employs over 7,000 people across the Adriatic region. Within its investment portfolio, MK Group utilises its core expertise in developing sustainable business models, delivering strong performance and creating value throughout the value chain. Corporate Social Responsibility is one of the core corporate values of the MK Group, with an aim to improving the living and working conditions in Serbia and the region, particularly in the areas of education and health of young people and children. Learn more at www.mkgroup.rs.