Cargill announced Wednesday it has signed a joint venture agreement with Minneapolis-based Puris, the largest North American producer of pea protein.
The venture is aimed at accelerating the roll-out of new products as consumer demand for pea protein increases. Cargill didn't disclose the amount of its investment in Puris.
"Puris is a game changer in terms of taste and vertical integration in pea protein," David Henstrom, Cargill's vice president of starches, sweeteners and texturizers, said in a news release. "Cargill is excited to expand into the emerging pea protein space while continuing to support our conventional agricultural crops."
The Minnetonka-based agribusiness colossus is one of the world's largest privately-held companies.
Cargill's investment will allow Puris to build a second plant, Tyler Lorenzen, Puris' president said in a news release. "Cargill's financial backing will power significant expansion of our operation globally."
Puris produces plant-based foods from organic and non-GMO crops.
