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ADM, Vland to Launch Joint Venture to Serve Growing Chinese Demand for Human Probiotics
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
ADM (NYSE: ADM) and Qingdao Vland Biotech Group have announced a joint venture aimed at capturing the demand for human probiotics in China. Retail demand for probiotics in China is projected to reach $1 billion in 2022, growing at over 9% annually. The 50-50 joint venture will manufacture and sell human probiotics, leveraging the expertise and capabilities of both companies. Regulatory approval is needed for the venture, which is expected to launch in the first half of 2022. This partnership forms part of ADM's broader strategy to expand its health and wellness portfolio.
Positive
Joint venture with Vland to focus on the growing probiotics market in China.
Projected retail demand for probiotics in China estimated at $1 billion for 2022 with over 9% annual growth.
Combining strengths and expertise of ADM and Vland for manufacturing and sales.
Negative
None.
CHICAGO & QINGDAO, China--(BUSINESS WIRE)--
ADM (NYSE: ADM), a global leader in nutrition, and Qingdao Vland Biotech Group Co., Ltd. (Vland), a leading producer of enzymes and probiotics, today announced that they have agreed to form a joint venture to serve growing Chinese demand for human probiotics.
“This exciting new joint venture represents the latest expansion in our full-scale global health & wellness business, which is helping propel growth across our entire human and animal nutrition portfolio, and creating value for ADM and customers alike,” said Vince Macciocchi, president of ADM’s Nutrition business. “We’re excited to partner with Vland to help meet the needs of consumers who are becoming increasingly aware of the strong linkage between health of the gut microbiome and their overall health. Retail demand for probiotics in China is estimated to be $1 billion in 2022, with annual growth of more than 9 percent, and we believe this new venture – powered by the expertise and experience of both ADM and Vland – is perfectly positioned to play a leading role in meeting that demand.”
“Vland is quite excited to partner with ADM to explore the promising market of human probiotics,” said Aron Chen, CEO of Vland. “We believe this strong partnership between Vland and ADM – powered by the technology, brand and sales channels of both parties – will be perfectly positioned to expand production and meet demand for high-quality human probiotics in China and for global customers.”
The 50-50 joint venture will manufacture and sell human probiotics, bringing together expertise and experience from both ADM and Vland to encompass a full range of technology, production and commercial capabilities, from pre-clinical trial design to manufacturing to go-to-market strategy and execution.
The joint venture, which is subject to regulatory approval, is expected to launch in the first half of 2022.
Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.
About ADM
At ADM, we unlock the power of nature to provide access to nutrition worldwide. With industry-advancing innovations, a complete portfolio of ingredients and solutions to meet any taste, and a commitment to sustainability, we give customers an edge in solving the nutritional challenges of today and tomorrow. We’re a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. Our breadth, depth, insights, facilities and logistical expertise give us unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, we enrich the quality of life the world over. Learn more at www.adm.com.
About Vland
Vland Biotech Inc., is one of the leading biotechnology companies in China. Based in Qingdao, the company specializes in three product categories: enzymes, probiotics, and animal health products. Vland provides solutions for an ever-expanding list of industries, including agriculture, animal husbandry, textile, paper making, household cleaning and detergents, food, biofuel, environmental protection and more.
