ABF Ingredients acquires Protient
Protient, a leading US manufacturer of whey protein concentrates and isolates.
04/11/05 ABF Ingredients has announced the closing of the acquisition of US specialty proteins business, Protient, a leading US manufacturer of whey protein concentrates and isolates. The business has been owned by Boston-based venture capital company, Ampersand Ventures, State of Wisconsin Investment Board and Protient management.
Protient have headquarters in St Paul, Minnesota and a network of eight manufacturing facilities, including three joint ventures employing some 240 people. Its main customers are manufacturers of dietary protein, infant formula and sports nutrition products in North America. Protient was founded in 1998 and has grown rapidly to become a leading player in the whey protein specialty ingredient market in North America.
Protient’s product lines are used in the sports and health drinks sectors, nutrition bars, infant formula, cereals, nutritional supplements, milk replacers, frozen desserts, confectionery, soups and sauces.
The global protein specialty market is worth approximately $2.2 billion with demand growing at 6-10% p.a., one of the fastest growing sectors within food ingredients, particularly from sports nutrition and functional foods. Protient are well placed to become one of the leading players in this sector under ownership of ABF Ingredients.
