Archer Daniels Midland Company issued the following announcement on Oct. 18
ADM a global leader in nutrition, and Qingdao Vland Biotech Group Co., Ltd. (Vland), a leading producer of enzymes and probiotics, today announced that they have agreed to form a joint venture to serve growing Chinese demand for human probiotics.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211018005532/en/
“This exciting new joint venture represents the latest expansion in our full-scale global health & wellness business, which is helping propel growth across our entire human and animal nutrition portfolio, and creating value for ADM and customers alike,” said Vince Macciocchi, president of ADM’s Nutrition business. “We’re excited to partner with Vland to help meet the needs of consumers who are becoming increasingly aware of the strong linkage between health of the gut microbiome and their overall health. Retail demand for probiotics in China is estimated to be $1 billion in 2022, with annual growth of more than 9 percent, and we believe this new venture – powered by the expertise and experience of both ADM and Vland – is perfectly positioned to play a leading role in meeting that demand.”
“Vland is quite excited to partner with ADM to explore the promising market of human probiotics,” said Aron Chen, CEO of Vland. “We believe this strong partnership between Vland and ADM – powered by the technology, brand and sales channels of both parties – will be perfectly positioned to expand production and meet demand for high-quality human probiotics in China and for global customers.”
The 50-50 joint venture will manufacture and sell human probiotics, bringing together expertise and experience from both ADM and Vland to encompass a full range of technology, production and commercial capabilities, from pre-clinical trial design to manufacturing to go-to-market strategy and execution.
The joint venture, which is subject to regulatory approval, is expected to launch in the first half of 2022.
Global demand is growing for ingredients and supplements that give consumers the power to support digestive health and immune function and elevate their general well-being. ADM has made several growth investments to build a full-scale global Health & Wellness business to meet this demand, including acquisitions like the additions of Protexin and Biopolis, organic projects such as the significant expansion in probiotics production at our Valencia facility, and partnerships including a prior collaboration with Vland.
Forward-Looking Statements
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
Original source can be found here.
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