Cargill has signed a joint venture agreement with the largest North American producer of pea protein, stepping into the plant-based protein market. The agreement with Puris, is called a “game changer in terms of taste and vertical integration” in plant-based protein, according to Cargill officials.
Meat industry publication Meatingplace reports Cargill’s financial backing and market reach will drive significant expansion of the operation by Puris, globally. The announcement comes just months after Cargill invested an undisclosed sum in Memphis Meats, a company that has developed beef, chicken and duck protein from animal cells.
Cargill joins other large meat companies investing in alternative protein sources. Tyson Foods in 2016 acquired a five percent stake in plant-based meat alternative maker Beyond Meat and boosted its stake last month. In September of last year, Nestle USA purchased Sweet Earth, a manufacturer of plant-based burritos, burgers and other foods.
From the National Association of Farm Broadcasting News Service.