Japanese Dairy Giant Megmilk and Agrocorp Partner to Open Pea Protein Plant in Malaysia
Japan’s dairy giant Megmilk Snow Brand has partnered with Agrocorp International, a Singapore-based global agrifood supplier, to produce and distribute plant-based ingredients to accelerate the shift toward sustainable food production in Asia. The two APAC companies established a joint venture (JV) to open a factory in Malaysia to produce pea protein and starch isolates for the region’s plant-based F&B manufacturing sector. Agrocorp will contribute 51% and Megmilk 49% in the total $21 million investment in the JV. “We are excited to partner with Megmilk Snow Brand, one of the largest dairy companies in Japan, to further our capabilities downstream in the plant protein extraction business,” commented Vishal Vijay, director of strategic investments at Agrocorp International. Growing demand in Asia The partnership will leverage the strengths of both …