- Burcon NutraScience (BU:CA) to submit a formal proposal to acquire the business of Merit Functional Foods.
- Merit has been placed in receivership as of March 1, 2023.
- As an innovator in the plant protein industry and a co-founder of Merit, Burcon believes that it is in a unique position to bring Merit’s business to profitability.
- “Merit’s facility was designed and built to produce protein ingredients using Burcon’s technologies. Merit’s business is a strong strategic fit for Burcon by providing additional revenue sources, better connection to customers and markets, and direct influence over the manufacture of Burcon’s protein ingredients.” commented Kip Underwood, CEO.
Source: Seeking Alpha