Bunge Ltd. takes minority interest in Merit Functional Foods
The investment will accelerate construction and commissioning of Merit’s plant-based protein production facility.
Bunge Ltd., Chesterfield, Mo., made a 30 million Canadian-dollar capital investment in Merit Functional Foods, Winnipeg, Manitoba, giving the global ingredient supplier a minority interest in the Canadian company. The new partnership will bolster Merit’s mission to provide plant-based protein ingredients with unmatched purity and quality, the companies said.
The partnership also will expedite the construction of Merit’s state-of-the-art plant-based protein production facility in Manitoba, where it will produce novel pea and canola protein ingredients, the companies said. It will be the only commercial-scale facility capable of producing food-grade canola protein in the world. Construction is well underway, and the plant is on track to be fully operational by December 2020.