Südzucker subsidiary BENEO is to acquire Meatless BV, a Dutch producer of texturized plant proteins from rice, quinoa, pea, fava, wheat and lupins. Meatless has supplied the food industry with such proteins for over 15 years.
“The acquisition of Meatless is a further core component for the rapid expansion of activities around the megatrend of plant protein”
Südzucker Group states that plant-based proteins are a current focus and that the acquisition of Meatless supports Südzucker’s goal of evolving from a large-scale processor of agricultural raw materials to a leading partner for plant-based solutions.
The move closely follows the news from earlier this month that its subsidiary BENEO will open a €50 million fava bean plant in Germany to meet the growing demand for plant-based proteins.
Founded in 2005, Meatless has developed a unique process that enables the production of plant texturates in a manner that results in neutral-tasting products with a white colour that can be used in frozen or dried form for the creation of fish and meat alternatives.
Südzucker Group, which employs 18,000 employees and generated EUR 7.6 billion in revenues in 21/22, says that “the acquisition of Meatless is a further core component for the rapid expansion of activities around the megatrend of plant proteins. Against this backdrop, we assume that our total investments of almost EUR 100 million as well as the existing potentials within Südzucker Group will significantly increase sales of our entire protein business in the medium term.”