ADM Acquires Non-GMO Soy Ingredients Provider Sojaprotein
Global nutrition leader Archer Daniels Midland (ADM) announced it has agreed to acquire Sojaprotein - a provider of non-GMO soy ingredients and the largest producer of plant-protein in southern Europe.
Located in Serbia, Sojaprotein’s product portfolio includes a wide range of non-GMO vegetable protein ingredients that the company sells across 65 countries to European and international meat alternative, confectionery, pet food, animal feed, and pharmaceutical customers, earning more than $100 million in 2020.
Alternative proteins is considered by ADM to be a growth platform, with expectations that the $10 billion industry will grow to $30 billion over the next 10 years. The addition of Sojaprotein will expand ADM’s production capacity and add another impressive network of customers.
This deal also builds upon a string of recent investments in the alternative protein space, including its soy protein complex in Canpo Grande in Matto Grosso do Sul, Brazil; its new pea protein plant in Enderlin, North Dakota; its PlantPlus Foods joint venture; and other partnerships, such as the one forged with Air Protein.