Merit Functional Foods has announced a new partnership with Bunge Limited.
Bunge has made a $30 million dollar capital investment in Merit, giving the global ingredient supplier a minority interest in the Canadian-based company.
“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 Co CEO Ryan Bracken. “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 state-of-the-art plant-based protein production facility in Winnipeg, 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 underway, and the plant is on track to be fully operational by December 2020.