A major international grain handler and one of the world’s leading beef producers have announced regulatory approval and the formal launch of a new plant-based food venture.

ADM and Marfrig this week launched the creation of PlantPlus Foods, which will “offer a wide range of finished plant-based food products across North and South America,” the companies said in a joint release. The new venture will be based in Chicago.

Marfrig, which is the world’s largest beef patty producer, owns 70% of the company and will be responsible for finished production and distribution. ADM owns the other 30% and will supply technical expertise, application development, and an array of plant-based ingredients.

Marcos Molina, Marfrig’s founder and chairman, said PlantPlus Foods is the result of two companies “that had a common vision to create a new venture offering a complete portfolio of delicious, sustainable plant-based foods for consumers across the Western Hemisphere.” Juan Luciano, ADM’s chairman and CEO, offered similar comments, saying today’s consumer is “demanding food that is good for the environment, for the body, for the mind, and for the development of a better you — while still being delicious.”

Other protein sector groups have also invested in plant or cell-based meat ventures, including Tyson’s Raised and Rooted brand of plant-based products and a similar product line from Cargill. In a release earlier this year, Cargill estimated global protein demand will grow 70% in the next 30 years.

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