American multinational Archer Daniels Midland (ADM), one of the largest agribusiness companies in the world, announced today the purchase of Sojaprotein, one of the largest European producers of non-GM soy ingredients. The value of the deal was not revealed. The transaction is subject to regulatory approvals. Headquartered in Serbia, Sojaprotein has annual sales of more than $100 million, with customers in 65 countries. The company sells conventional soy ingredients to vegetable-based meat companies, the confectionery industry, the protein bar industry, the pharmaceutical industry, and the feed industry. The acquisition is part of ADM’s strategy to grow in the global market for alternative proteins, a market which currently has sales of US$ 10 billion and is expected to reach US$ 30 billion in the next decade, said Leticia Gonçalves, global president of ADM’s special ingredients area, in note.

Sources: Valor Econômico/Datamar News