Südzucker subsidiary BENEO has entered into a purchase agreement to acquire 100% of Meatless B.V, a functional ingredients producer.
Meatless' current management will remain in place as part of the transaction, Südzucker said in a statement.
Alternative Protein Production
BENEO, formed in 2007, recently unveiled plans to develop a new production plant for protein concentrates at the Offstein site in Rhineland-Palatinate.
A sharp increase in the population and the associated higher protein requirements, as well as the general trend toward vegan and vegetarian diets and the processing of sustainable fish and meat replacements are all factors that are underpinning the group's increased investment in this area.
BENEO currently produces textured wheat protein at its Wanze site in Belgium. This is then used as a meat substitute.
Meatless, established in 2005 and based in Goes, the Netherlands, specialises in the production of texturates based on rice, faba beans, lupins, peas, quinoa, wheat, and other raw materials. This results in neutral-tasting products, that can be used in frozen or dried form as a vegetable alternative in fish and meat substitutes to help the organic transition.
Südzucker Group, which generated revenues of about €7.6 billion in 2021/2022, has outlined plant-based proteins as a cornerstone of its strategy 2026 PLUS.
Its subsidiary BENEO, through the acquisition of Meatless, will aim to offer an extensive range of texturising solutions for meat and fish alternatives, the company added.