Merit Functional Foods partners with Bunge to bring pea and canola protein to market

28-Aug-2020

The partnership will accelerate construction and commissioning of Merit’s world class extraction facility

Merit Functional Foods announces a new partnership with Bunge Limited that will bolster its mission to provide plant-based protein ingredients with unmatched purity and quality.

Bunge Limited, a leading international agribusiness and food company, has made a $30 million (CAD) capital investment in Merit, giving the global ingredient supplier a minority interest in the Canadian-based company.

The partnership will expedite the construction of Merit’s state-of-the-art plant-based protein production facility in Manitoba, Canada, where it will produce novel pea and canola protein ingredients.

It will be the only commercial-scale facility capable of producing food-grade canola protein in the world. Construction is well under way, and the plant is on track to be fully operational by December 2020.

“We’re excited to have a global partner like Bunge recognise our mission and assist us in accelerating our plans and path to launch,” Merit’s co-CEO Ryan Bracken said. “Bunge also holds a deep knowledge of international commodity markets that will help reinforce our canola business with customers globally.”

The demand for plant-based foods and beverages — including dairy and meat alternatives — is rapidly increasing.

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Merit’s product portfolio of pea and canola protein ingredients supports the growing need for highly functional and taste-forward plant-based applications. As one of the leading processors of canola in Canada, Bunge has strong origination expertise and will supply Merit with critical inputs.

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