news in brief

Bunge invests in Merit Functional Food

By Jim Cornall contact

- Last updated on GMT

Merit is based in Winnipeg, Manitoba.
Merit is based in Winnipeg, Manitoba.

Related tags: Bunge, Bunge north america, Pea protein, Dairy alternatives, plant based, Ingredients

Canadian plant-based company Merit Functional Foods is partnering with Bunge Limited.

Bunge, an international agribusiness and food company headquartered in Missouri, US, has made a C$30m (US$22.9m) capital investment in Merit, giving the global ingredient supplier a minority interest in Merit.

The partnership will expedite the construction of Merit’s plant-based protein production facility in Manitoba, Canada, where it will produce novel pea and canola protein ingredients, including for dairy alternative products.

It will be the only commercial-scale facility capable of producing food-grade canola protein in the world. Construction is under way, with the plant set to be fully operational by December 2020.

“We’re excited to have a global partner like Bunge recognize our mission and assist us in accelerating our plans and path to launch,”​ Merit’s co-CEO Ryan Bracken said.

“Bunge also holds a deep knowledge of international commodity markets which will help reinforce our canola business with customers globally.”

Bunge said Merit’s product portfolio of pea and canola protein ingredients supports the growing need for highly functional and taste-forward plant-based applications.

Related topics: Ingredients

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Follow us

Products

View more

Webinars