Bunge invests in Merit Functional Food

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.