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Bunge made a $30 million (CAD) capital investment in Merit, to enhance its portfolio of plant-based protein ingredients.
Merit Functional Foods (Winnipeg, Manitoba) entered into a new partnership with Bunge Limited (St. Louis, MO) — an international agribusiness and food company — which made a $30 million (CAD) capital investment in Merit, to enhance its portfolio of plant-based protein ingredients.
“We’re excited to have a global partner like Bunge recognize our mission and assist us in accelerating our plans and path to launch,” said Merit’s co-CEO Ryan Bracken, in a press release. “Bunge also holds a deep knowledge of international commodity markets which will help reinforce our canola business with customers globally.”
The partnership will expedite the construction of Merit’s plant-based protein production facility in Manitoba, where it will produce pea and canola protein ingredients. Construction is on track to be fully operational by December 2020.