Australian Plant Proteins (APP), a producer of high-quality protein isolates, has been acquired by My Co., the investment vehicle of the Paule Family Office.
APP is known for its patented fractionation technology, which enables the production of protein isolates from faba beans, yellow peas, lentils, mung beans, and other pulses through a unique extraction process. The clean, non-solvent method produces a highly functional protein isolate containing over 85% protein.
APP entered voluntary administration in July of last year after experiencing financial difficulties. My Co. says the acquisition is a strategic move that will support local farmers, protect jobs, and reinforce Australia’s status in the global plant-based food market.
“This acquisition opens doors to numerous possibilities for APP,” said Vicky Pappas, CEO of My Co. “With our proven track record in food manufacturing and expertise in successfully scaling brands like BioCheese and Meliora, we are eager to leverage our resources and expertise to support APP’s growth. Together, we will meet the increasing consumer demand for nutritious and sustainable food options.”
Catering to evolving consumer tastes
APP is now set to embark on several key projects, including establishing a fibre and starch processing facility to increase its production capacity and diversify its product offerings. According to My Co, the acquisition will enhance operational efficiencies and marketing strategies, enabling the development of new products to meet evolving consumer tastes and the growing market for plant-based alternatives.
The acquisition has the potential to strengthen Australia’s agricultural value chain, promoting local sourcing, sustainability, and plant-based innovation.
“We are thrilled about the potential this acquisition brings, not just for APP and our current evolving customer base but for Australia’s entire plant protein industry,” said Phil McFarlane, co-founder of APP. “Our focus remains on delivering high-quality plant-based ingredients sourced from Australian-grown pulses while creating valuable employment opportunities in the Horsham area.”
