Merit's facility

© Burcon

Investments & Acquisitions

Plant Protein in Canada: Burcon to Acquire Merit Functional Foods from Receiver

Burcon NutraScience has announced plans to submit a formal proposal to acquire the Canadian plant protein processor Merit Functional Foods business, which went into receivership on March 1, 2023.  Burcon, Merit’s technology partner owning a 31.6% share, said in a statement that it remains actively engaged in discussions with PricewaterhouseCoopers, the financially distressed company appointed receiver.   Merit was established in 2019 as a joint venture to enable the next generation of plant-based foods and beverages. In February 2021, after two years of its announcement, the company officially opened its pea and canola protein plant in Winnipeg, deploying Burcon’s patented technology.  Bunge Corporation acquired a 25% stake in mid-2020 to expedite the completion of the protein facility. At the time, Merit also secured a debt financing package of up to …

more

Merit new Facility

Merit Foods facility, Image: Business Wire

Company News

Justin Trudeau Announces $100M for Canadian Plant-Based Industry, Will Produce “World’s Highest Purity and Highest Quality” Proteins to “Redefine Plant Protein”

The Canadian government has announced financing of almost $100 million for Merit Functional Foods, a producer of plant protein, for its previously announced new Winnipeg facility which will reportedly produce the world’s highest purity and highest quality pea and canola protein. Merit’s CEO states the facility will “redefine plant protein”.

more