Food ingredients manufacturer Ingredion is investing $185 million to increase its production of plant-based protein ingredients by the end of next year, the company announced in an August 1 press release.
The company’s plan includes an expanded relationship with Verdient Foods to add new pulse-based concentrates and flours to its portfolio and the construction of a new specialty pulse-based protein ingredients processing plant that is slated to become operational in the latter half of 2020.
“We’ve advanced our specialties strategy to capitalize on the trends shaping the food industry,” Ingredion President and Chief Executive Officer Jim Zallie said in a statement. “Our latest investment will significantly expand our product portfolio to provide more innovative solutions to our customers, which will enable future growth. Ingredion and Verdient also share a common vision that sustainable and trusted sourcing will play an important role in the future of consumer-preferred plant-based proteins.”
Verdient Foods, a company jointly owned by James Cameron, Suzy Amis Cameron, and PIC Investment Group, manufactures pulse-based protein concentrates and flours from peas that is used in human and animal foods. Ingredion entered into a joint venture with Verdient in December 2018.
Ingredion also purchased a plant in South Sioux City, NE in February 2018 with the intention of converting it into a processing facility for pulse-based protein isolates. The newly renovated site is expected to become operational by the end of this year.
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