Ÿnsect announces acquisition of Protifarm

Ÿnsect is expanding abroad with the acquisition of the Protifarm production location in Ermelo. The French company says it is the world leader in natural insect proteins and fertiliser production. Protifarm annually produces about 1,000 tons of nutritional ingredients from buffalo beetle mealworms for humans, animals and plants. There is the possibility to scale up to 20,000 tons of ingredients.

Access to the market in Northern Europe through acquisition

“The acquisition is a strategic and important step for us, strengthening our global leadership position and allowing us to focus on the food ingredients market with an additional product portfolio.” So says Antoine Hubert, co-founder and CEO of Ÿnsect.

‘Protifarm is a world leader in the market for insect ingredients, having food companies as customers in the Netherlands, Germany, England, Denmark and Belgium, which means that insects can strategically grow much faster in this market.’

Ÿnsect has 3 production companies, one of which is still under construction. Total capacity is estimated at more than 230,000 tons of insect ingredients per year.

Investors in Protifarm become shareholders

No financial details about the acquisition will be disclosed. The main shareholder of Protifarm is Marvesa, a Dutch company that produces oils and fats for animal nutrition. Marvesa and other investors in Protifarm become shareholders of Ÿnsect through the acquisition. Protifarm’s 50 employees will continue to be employed, just as the management will stay to integrate the company into Ÿnsect.

Mealworms suitable for human consumption

The acquisition follows the approval by the European Food & Safety Authority (EFSA), at the beginning of this year, that mealworms can be used for human consumption. Ÿnsect hopes that its concentrated protein meal will also be approved for human consumption soon.