ADM Boosts Veggie-Burger Market Push With Europe Acquisition
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Archer Daniels Midland Co. is expanding its push into veggie-burger ingredients with an agreement to acquire Sojaprotein, southern Europe’s biggest producer of plant-based protein, according to a release Monday.
The $10 billion plant protein segment is forecast to triple over the next decade, and has become a focus for Chicago-based ADM as it tries to diversify from the volatile legacy business of buying and shipping crops. Other recent investments in plant protein include a soy complex in Brazil and a pea-protein plant in North Dakota.