Protein innovation: Cargill invests in cultured meats
August 23, 2017
With a world population expected to grow to 9 billion by 2050, and the demand for protein expected to rise with the population and their increasing incomes, Cargill is committed to growing our protein portfolio. This includes investing in, and growing, our traditional protein businesses, as well as exploring new opportunities for future growth.
On Aug. 23, we announced an investment in Memphis Meats, our first entry into the cultured protein market, delivering on our commitment to offer protein choice to our customers and consumers.
“Our goal is to provide a complete basket of goods to our customers. We will do this by growing our traditional protein business, entering into new proteins and investing in innovative alternatives” said Brian Sikes, Cargill Protein group leader. “Our strategic alliance with Memphis Meats is an exciting way for Cargill to explore the potential in growing the cultured meats segment of the protein market. As a leading and trusted source for wholesome, sustainable and responsibly produced protein, this investment fits nicely with our customer-first approach to grow our portfolio.”
“We selected Memphis Meats because their proven technology and potential to commercialize sets them apart in the cultured meat protein space,” said Todd Hall, Cargill executive vice president, Protein & Salt. “Memphis Meats shares Cargill’s mission to strive to provide sustainable protein options, as they provide sustainable cultured meats (beef, chicken and duck products), produced from animal cells.”
At the same time, Cargill remains fully committed to investing in and growing our traditional animal protein business. Our commitment is reinforced by nearly $600 million in recent investments in conventional protein in North America alone, including the acquisition of Five Star Custom Foods, modernization of our turkey hatchery in Virginia and the conversion of our Columbus, Neb., plant into a cooked meats facility. Also, CAN’s recent acquisition of Southern States Cooperatives’ animal feed business and our investment in the NouriTech FeedKind facility in Memphis further underscores Cargill’s overarching commitment to animal protein.
“At Cargill, we recognize that meat is a core part of consumer diets and central to many cultures and traditions,” said Sikes. “We believe consumers will continue to choose meat as a protein source, and that is why we are focused on bringing it to their table as sustainably and cost-effectively as we can. Our traditional proteins, as well as new innovations like cultured meats, are both necessary to meet that demand.”