Jones Day represented Brazilian Marfrig Global Foods SA.
Marfrig (B3:MRFG3 and Level 1 ADR: MRRTY) and ADM (NYSE: ADM) announced an agreement to create PlantPlus Foods, a joint venture for the sale of plant-based food products across South American and North American markets.
Marfrig, one of the world’s leading beef producers and the world’s largest beef patty producer, and ADM, a leading global nutrition company, already have a successful history working together to develop and produce sustainable, plant-based foods in South America. Now, PlantPlus Foods will expand on that successful relationship.
Marfrig will initially own 70 percent of PlantPlus Foods, with ADM owning 30 percent. Marfrig will be responsible for production and distribution, utilizing its facilities in South America, mainly in Várzea Grande, in the Brazilian state of Mato Grosso, and its facilities in the United States. ADM will supply technical expertise, application development and an array of plant-based ingredients, flavors and systems from its specialty protein complex in Campo Grande, Mato Grosso do Sul, and its network of U.S.-based ingredient and flavor facilities, including its new pea protein plant in Enderlin, North Dakota. The joint venture will primarily focus on North and South America, though it will have the ability to serve customers in other global markets.
The two companies will continue serving existing customers independently, supporting the sustainable development of the industry.
Marfrig is responsible for managing 13 production units in Brazil, which produce ready-to-eat products such as canned beef, beef jerky, sauces and sachets.
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow.
Jones Day team was led by Marcello Hallake (Picture).
Involved fees earner: Marcello Hallake – Jones Day;
Law Firms: Jones Day;