COSUCRA, a Belgian leader in plant ingredients, has secured €45 million to fund its environmental, social, and economic transition, including the reduction of its carbon footprint and increased production of sustainable chicory and pea-based ingredients.
Founded in 1852 in Warcoing, Belgium as a sugar producer, COSUCRA now pioneers healthy ingredients derived from local chicory and peas for the growing clean label and healthy food market. Its portfolio offers naturally sourced ingredients, including pea protein and chicory fiber, that the company claims have nutritional boosting capacities, improving product profiles.
Sofiprotéol, Wallonie Entreprendre, and the Société Fédérale de Participations et d’Investissement (SFPIM) subscribed to the funding round and now join COSUCRA as minority shareholders.
Transforming tomorrow’s food
“We are delighted that such professional investors as Sofiprotéol, Wallonie Entreprendre, and SFPIM are joining us to transform tomorrow’s food while contributing to the necessary energy transition,” said Eric Bosly, CEO of COSUCRA.
Committed to meeting the objectives of sustainable and resilient food production, COSUCRA has embarked on a transformation plan (of more than €200 million) set to take place between 2023 and 2030. The raised funds will finance part of the plan, starting with the energy transition of its Belgian production sites (two) to reduce their carbon footprint by more than 50% per kilo of ingredients produced. In 2019, the company opened a pea processing plant in Denmark in response to the increasing plant-protein demand.
Additionally, the new capital will propel the company’s chicory plant production capacity. According to COSUCRA, demand for its chicory-based product FIBRULINE will increase a 50% by 2030. The Belgian company argues that many daily diets, food supplements, and health products will include FIBRULINE due to its sugar reduction, digestive health, and plant fiber fortification properties.
Challenges of food transitions
As part of the plan, COSUCRA will deploy an innovation strategy — from raw materials to ingredients — to support manufacturers challenged by the global shift toward foods that nourish and support human health. According to COSUCRA, its environmental, social, and economic transition will provide 75 direct jobs at the Warcoing site in Belgium.
Luc Ozanne, co-head of investments at Sofiprotéol, commented: “COSUCRA has been able to impose itself very early in the sector of natural plant-based ingredients grown locally — peas and chicory — always looking for innovative solutions likely to meet health, environmental and societal expectations. We are delighted to support COSUCRA in this new phase of development as the challenges of agriculture and food transitions are major for the society, the planet, and the consumers.”
