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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

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