Marfrig forms meat-free JV with ADM

Marfrig forms meat-free JV with ADM

M&A Brazil US

Brazilian food processing company Marfrig could earn BRL609 million ($115 million) in revenues in the next two years from a new joint venture with Archer Daniels Midland (ADM), according to analysts. Marfrig and ADM have agreed to form a company called PlantPlus Foods to make and market plant-based meat substitutes in the Americas, including hamburgers, nuggets, cold meats and sausages, according to a securities filing from Tuesday. Marfrig will own 70% of PlantPlus Foods, while ADM will have 30

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