Bunge has completed its acquisition of International Flavors & Fragrances (IFF)’s soy protein concentrate, lecithin and crush businesses.

The agreement was first announced in August last year, aiming to expand Bunge’s product portfolio and capabilities in the food ingredients space. It will build on Bunge’s existing product lines, unlocking new innovation opportunities for the group in the areas of plant-based and clean label proteins.

Now acquired as part of the deal are IFF’s Response, Alpha, Procon and Solec brands. Complementing Bunge’s existing protein portfolio, the agri-food business will now benefit from a more diverse range of textured, functional and powdered soy protein concentrates.

This will enable development of higher-protein products across bakery, snacks, meats, meat alternatives and more, tapping into the ‘protein boom’ as consumers increasingly seek nutrition-boosted products.

The deal also enhances Bunge’s lecithin offerings, which now include liquid, powdered and fractionated lecithins from soy, sunflower and rapeseed. These can be used by manufacturers to optimise the production and texture of innovations across confectionery, bakery and other categories.

Bunge is a major player in the agribusiness space, with a global team of over 34,000 employees. The company specialises in grain origination, storage, distribution, oilseed processing and refining, offering a wide range of plant-based oils, fats and proteins.

The acquisition – the financial terms of which were not disclosed – aligns with Bunge’s strategic growth plans and operational expertise, including its $8.4 billion merger with grain handler Viterra last year.

Brian Douville, vice president of emulsifiers and proteins at Bunge, commented: “We are excited to integrate IFF’s soy protein concentrate, lecithin and crush business and welcome our new colleagues to Bunge”.

“This transaction reinforces our commitment to be recognised by food and beverage customers as a partner of choice providing a diverse and reliable range of ingredient solutions to our global customers, supporting supply chain resilience.”