ADM Takes Serbia’s Sojaprotein
US food and nutrition group ADM has acquired Sojaprotein, a Serbian-based provider of non-GMO soy ingredients, for an undisclosed sum. The acquisition expands ADM’s global alternative protein capabilities and its ability to meet growing demand for plant-based foods and beverages.
Sojaprotein offers a wide range of non-GMO vegetable protein ingredients for multiple European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food and animal feed segments. The company generated sales of more than $100 million in 2020.
“ADM has been at the forefront of pioneering innovation in alternative proteins for more than seven decades, and we continue to invest to expand our capabilities to meet fast-growing demand for new protein solutions as we grow our nutrition business worldwide,” said Vince Macciocchi, president of ADM’s nutrition business. “Together, ADM and Sojaprotein are perfectly positioned for continued growth as we work to meet the needs of European consumers who are looking for locally-sourced, non-GMO plant-based ingredients in their food and beverages.”
The acquisition is the latest in a series of moves that ADM has made in just the past few weeks to boost its food and nutrition business. Last month, it closed its purchase of Deerland Probiotics & Enzymes, a US provider of dietary supplements using probiotic, prebiotic and enzyme technology.
That same month, the company also agreed to form a 50:50 joint venture with Asia Sustainable Foods Platform to provide technology development and precision fermentation for a wide variety of bio-based products, including alternative protein in Singapore and the wider Asia-Pacific region.
In October, ADM took a share in Slovenian biotech Acies Bio and also agreed to partner Qingdao Vland Biotech to serve growing Chinese demand for human probiotics.
Author: Elaine Burridge, Freelance Journalist
