Global agribusiness giant Archer Daniels Midland Co (ADM) is set to acquire leading European non-genetically modified (GMO) soya ingredient company Sojaprotein, ADM announced on 26 July.

Established in 1977, Serbia-based Sojaprotein is active in 65 countries, offering a range of non-GMO vegetable protein ingredients for European and global customers in the meat alternative, confectionery, protein bar, pharmaceutical, pet food, and animal feed sectors. In 2020, the company had sales of more than US$100M.

“The addition of Sojaprotein — the largest producer of plant-based protein in southern Europe — adds production capacity in addition to an impressive network of customers who are leading the way in meeting consumer needs for nutritious and responsible plant-based foods and beverages,” ADM’s president of Global Foods Leticia Gonçalves said.

ADM said the acquisition, which was subject to regulatory approvals, would build on ADM’s recent investments in alternative proteins, including the company’s soya protein complex in Campo Grande, Mato Grosso do Sul, Brazil; its new pea protein plant in Enderlin, North Dakota; its PlantPlus Foods joint venture; and partnerships with start-ups such as Air Protein.

“Consumers today are looking for more from their foods and drinks – they want great tasting products and sustainable sources of proteins,” Gonçalves added.

MK Group is a leading investment group in South East Europe, operating more than 70 companies in the agri-food, banking, hospitality, real estate and renewable energy sectors.