Agriculture Roundup for Monday January 11, 2021
Maple Leaf Foods said it plans to spend $100 million to increase tempeh production capacity with the acquisition of a food processing plant in Indianapolis.
The company said the purchase is expected to close in early April followed by the installation of tempeh production equipment with initial capacity of roughly 4.5 million kilograms.
Maple Leaf said initial production at the plant is targeted to begin in the first half of 2022 and it is expected to employ 115 people when fully operational.
Tempeh is a plant-based protein made from soybeans.