ST. LOUIS, MISSOURI, US – Bunge Ltd. has invested $45.7 million in Australian Plant Proteins (APP). The agreement will allow APP to double plant protein isolate production by March 2022, give Bunge a minority stake in the company and make Bunge APP’s exclusive distributor in the Americas.
Ingredients manufactured by APP include fava bean isolate powder, yellow lentil isolate powder and red lentil isolate powder. The ingredients may be used in a variety of applications, including plant-based beverages, yogurts, meat alternatives, protein bars, shakes, sauces, condiments and baked foods.
“By combining APP’s proprietary extraction technology with our application expertise and global sales and distribution networks, we provide a significant competitive advantage in making quality plant protein accessible to customers around the world,” said Kaleb Belzer, vice president of Bunge’s protein business.
APP said it has a proprietary fractionation process that retains protein quality during production. As part of its investment, Bunge will have the option to license APP’s processing technology outside of Australia.
“Securing investment and distribution agreements with a major multinational such as Bunge, alongside our existing partnership with Scalzo Foods in Australia and New Zealand, is testament to the value and ongoing growth in demand for quality, plant-based protein options,” said Brendan McKeegan, co-founder and director of APP.