How Tyson Foods and Protix want to ramp up operations in the US by 2025
The American manufacturer invested €55 million ($58.2M) in the Dutch insect supplier. GlobalPETS learns more.
Tyson Foods recently announced that it acquired a minority stake in Protix valued at €55 million ($58.2M) to help the Dutch firm fund its global expansion strategy and research and development (R&D) capabilities.
Both companies have also reached a joint venture to construct and operate a low-footprint insect ingredient facility.
The new production plant will be able to produce up to 70,000 tons of live larvae (LLE) annually and have the capacity to convert 250,000 metric tons of waste into high-quality nutritional products.
This is 3–4 times more than the Dutch insect supplier’s capacity in its Bergen op Zoom facility in the Netherlands, which currently produces 14,000 metric tons of LLE annually.
The facility is expected to upcycle Tyson Food’s feedstock and food manufacturing byproducts into high-quality insect proteins and lipids for the pet food, aquaculture and livestock industries.
A major milestone
According to the Arkansas-based manufacturer, this is the latest strategic investment by the company in “groundbreaking solutions that drive added value to Tyson Foods’ business.”
“This agreement is a major milestone for Protix and significantly accelerates our ambition to grow through international partnerships,” adds CEO Kees Aarts.
Earlier in the year, Protix appointed Lynn de Proft as the new CFO to lead the company’s “ambitious” growth trajectory and global expansion plans.
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