Bunge, a publicly traded agribusiness and food company based in White Plains, New York, has acquired the assets of MCN BIoProducts, a company backed by investors Foragen Technologies, CIC Investment Management, GrowthWorks, and FCC Ventures. MCN has been developing a patented process to make canola-based ingredients for the aquaculture and animal feed industries. Terms of the acquisition aren’t being disclosed.
Bunge Limited BG -0.51% (“Bunge”), a leading global agribusiness and food company, today announced it has purchased substantially all of the assets, including the patent portfolio, of MCN BioProducts Inc. (“MCN”), a privately-held Canadian technology company. Financial terms of the transaction were not disclosed.
Assets purchased include intellectual property related to the conversion of canola and rapeseed meals into nutritionally dense protein concentrates that can replace both fish meal and vegetable protein concentrates in animal diets, including aquaculture.
Miguel Oliveira, Executive Director, Bunge Global Innovation, said, “Animal nutrition continues to evolve and requires innovative products that deliver value in sustainable ways. MCN’s technology opens up opportunities for Bunge to provide protein alternatives in markets where we already operate, as well as in new ones. Importantly, the new concentrates are produced via a patented enzymatic water-based process that can be added to an existing canola and rapeseed crushing plant without affecting oil quality or yield. As a global agribusiness and food company, Bunge has the right operational expertise and asset network to successfully commercialize this process and leverage it in our core businesses in the years to come.”
Bunge Global Innovation (“BGI”) is an interdisciplinary team applying the latest thinking and technologies to drive innovation across all Bunge business segments. BGI’s mission is to scout, develop, buy, sell or license technologies that will improve Bunge’s sustainability, profitability and competitive advantage.
About Bunge LimitedBunge Limited ( www.bunge.com , NYSE: BG) is a leading global agribusiness and food company with approximately 32,000 employees in more than 30 countries. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat and corn to make ingredients used by food companies; and sells fertilizer in North and South America. Founded in 1818, the company is headquartered in White Plains, New York.
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