AUSTRALIA | Inghams Group Limited has announced a seed-stage equity investment of AUD 1,050,000 in Just Meat Protein Pty Ltd (‘JMP’).
JMP is an Australian food technology company commercialising CSIRO-developed hydrolysed poultry protein technology, for which it holds an exclusive worldwide licence.
Under the terms of the Investment, Inghams has acquired a ten percent shareholding in JMP, and Caroline Hayes, Inghams’ Chief Growth Officer, will join the JMP board. Inghams also has an exclusive first-right supply arrangement with JMP across Australia.
JMP’s proprietary process converts chicken meat into premium powdered protein ingredients targeting sports nutrition, functional foods and specialised nutrition markets.
Ellie Whelan, CEO and Co-Founder of Just Meat Protein, mentioned that the growing population, the rapid rise in GLP-1 use, and the shift towards more conscious consumers have driven a significant increase in demand for new protein sources.
For Just Meat Protein, solving this problem by targeting low-value cuts was not only a commercial win but also a positive shift towards a more sustainable food system.
Inghams’ research has estimated that the global sports nutrition market alone is worth USD 27 billion and is projected to grow strongly. Other addressable market segments include aged care and meal replacement, protein-fortified mass-market foods, and specialty nutrition, including military and space applications.
Inghams’ CEO and Managing Director, Ed Alexander, said that the investment in Just Meat Protein was precisely the kind of innovation-led, high-value adjacency he has been looking to establish and was strongly aligned to Inghams’ strategy to maximise the value generated from every bird processed.
“The investment allows us to secure an early and strategically advantaged position in a category we believe has significant growth ahead of it.”
More global news here
