CHICAGO — PlantPlus Foods LLC, a joint venture between ADM and Brazilian meat processor Marfrig, completed its acquisition of Sol Cuisine Ltd., a Canadian processor of tofu as well as fresh and frozen plant-based meat alternatives, for approximately C$125 million ($99 million).
The transaction adds a range of non-GMO, wheat-free, gluten-free and organic vegan products to PlantPlus Foods’ portfolio in North America. Mississauga, Ont.-based Sol Cuisine offers plant-based appetizers, including crispy chicken-style bites, spicy black bean bites and spinach chickpea bites, along with meat-free breakfast patties, Italian style meatballs, tempura filets, hot and spicy wings, Mediterranean style falafel and chicken tenders. It also offers a range of vegan items for foodservice customers, including burgers and veggie crumbles.
Sol Cuisine marks the second acquisition for PlantPlus Foods, which recently purchased Lawrence, Kan.-based Dew Drink Eat Well, LLC, a maker of meat-free burger and sausage analogues sold under the Hilary’s brand. The joint venture between ADM and Marfrig, which sells branded, private label and custom products across North and South America, plans to expand production and distribution of both brands as it builds out its infrastructure and distribution capabilities.“We look forward to growing our presence in the North American market while nurturing our South American customer base and leading accounts,” said John Pinto, chief executive officer of PlantPlus Foods. “As we leverage the passionate communities across the plant-base, flexitarian and meat industries, we intend to provide them with better-for-you ingredients when experiencing our products.”