ADM accelerates growth of alternative protein platform

US-based ADM has announced that it has reached an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients. 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, confectionery, 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 represent one of its core growth platforms, and as this $10 billion global industry grows to $30 billion over the next decade, ADM is investing to expand its unparalleled capabilities. 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.