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 …


two pea protein bars with dark chocolate cover on top of a table

© Merit Functional Foods


Merit Launches “Superior Quality” Certified Organic Pea Protein for F&B Manufacturers

Merit Functional Foods, a Canadian company that produces plant-based protein ingredients, recently launched its first USDA Certified Organic pea protein, Organic Peazazz C™ 850. The company claims its new pea protein is the most transparent and sustainable ingredient available to F&B manufacturers to date.  Organic Peazazz is intended for use in various applications, including ready-to-drink (RTD) and ready-to-mix (RTM) protein drinks, dairy alternatives, protein bars, and other food products.  Ryan Bracken, Merit’s co-CEO, commented on the recent launch: “Organic protein is undoubtedly more laborious, as it requires stricter growing processes, stringent regulations, and unique filtration processes to get it right. For that reason, certified organic options are scarce in the market with limited availability. We have worked to make organic pea protein scalable, accessible, and the highest …


Canadian Partners Launch Alt Seafood

Representatives from Konscious, Merit and Canadian Pacifico Seaweeds ©Protein Industries Canada

Retail & E-Commerce

Canada: Industry Partners Invest $15.3M to Develop New Line of Alt-Seafood Products

Canada’s Konscious Foods, Merit Functional Foods and Canadian Pacifico Seaweeds announce a new partnership to develop an extensive line of plant-based seafood alternatives. Created with a co-investment from Protein Industries Canada (PIC), the line will bring more than 20 sustainably sourced alt-seafood products to North American grocery stores.  A total of $15.3M has been committed to the project, including a $5.5M contribution from PIC. That investment reportedly acted as a catalyst for the innovative partnership, and allowed the project to move at a faster, more efficient pace. The new products will reportedly match the taste and texture of traditional seafood with a focus on clean-label ingredients. To create the line, plant-based seafood brand Konscious Foods will incorporate Canadian-grown and -processed ingredients, including Merit’s pea and …


©Merit Functional Foods

Agriculture / Agribusiness

Protein Industries Canada Invests in $7.9M Plant Protein Project for Canadian Brands such as Daiya & Merit Functional Foods

Protein Industries Canada recently announced a co-investment into a project that will utilize some of Canada’s most widely grown crops in the development of new plant-based foods and ingredients. “Adding value to our crops by turning them into innovative food products is a boon for our communities and the Canadian econom” Protein Industries Canada is providing half of the investment into the project, with Merit Functional Foods, TWC Nutrition, Daiya Foods and Grand River Foods together investing the remaining half for a total project investment of $7.9 million. Together the companies will utilize Merit Functional Foods’ pea, canola and blended pea-canola protein ingredients in new plant-based products. As we reported in June 2020, Prime Minister Justin Trudeau announced $100M for the Canadian plant-based industry, through …


an algae drink in a glass bottle

© Merit Functional Foods

Company News

Bunge Limited Makes $30M Capital Investment in Merit Functional Foods, Partnership to Expedite Completion of Plant-Based Protein Facility

Merit Functional Foods has announced its new partnership with ternational agribusiness and food company Bunge Limited. The collaboration will expedite the construction of Merit’s “state-of-the-art” plant-based protein production facility located in Winnipeg, Manitoba, Canada, where it will produce novel pea and canola protein ingredients.


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”.