Lantmännen Biorefineries acquires minority share in Sproud

SWEDEN – Lantmännen Biorefineries, one of the largest agriculture-based biorefineries, has acquired a 10% minority stake in the plant-based, milk-alternatives business Sproud.

The financial terms of the deal have not been disclosed. The company stated that the investment is a crucial step in strengthening its presence and expertise in the entire pea protein value chain.

“It’s a positive development that we can become a part-owner of Sproud, an exciting company with a bright future. We have a great interest in plant-based proteins, not least considering our current efforts in Lidköping,” says Fredrik Krook, MD of Lantmännen Biorefineries.

Founded in 2018, Sproud specializes in producing a diverse range of plant-based milks, primarily utilizing split yellow peas as the main ingredient.

Sara Berger, CEO of Sproud, expressed enthusiasm about the company’s growth and innovation, highlighting the increasing global demand for plant-based products due to consumer interest in health, sustainability, and future food solutions.

She welcomed Lantmännen Biorefineries as a new shareholder, emphasizing the strategic alignment between the two companies.

Lantmännen invest US$105.8M to boost plant-based protein

The news comes after Lantmännen announced plans to establish a new plant-based protein facility in Lidköping, Sweden.

In 2024, Ingredion partnered with Lantmännen, an agricultural cooperative, to invest over US$105.8 million in a new factory in Sweden.

This state-of-the-art facility, expected to be operational by 2027, will focus on producing high-quality pea protein isolates from yellow peas.

The collaboration aims to accelerate the development of plant-based proteins while enhancing sales, product innovation, and production processes.

According to Ingredion, the partnership will initially focus on meeting European market demands for sustainably sourced and competitively priced pea protein isolates.

Mike O’Riordan, Ingredion’s Senior VP of Texture and Healthful Solutions in EMEA, stated, “By joining forces with Lantmännen, we are expanding our footprint in the European market.”

“This partnership enables us to deliver superior, sustainably sourced pea protein isolates that meet the evolving needs of the global market.”

Lars-Gunnar Edh, Executive VP of the Lantmännen Energy Sector and CEO of Lantmännen Biorefineries, highlighted the complementary nature of the collaboration.

“Ingredion’s market reach and process expertise perfectly complement our vertically integrated production capabilities,” he said.

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