SYDNEY, AUSTRALIA: Wide Open Agriculture (WOA), an Australian company that produces plant-based dairy alternatives from lupins, has announced the acquisition of Prolupin GmbH, a leading European lupin protein producer, for €2.5m (A$4.2m). The deal includes Prolupin’s manufacturing facility, patents, trademark, inventory, and raw materials.
The acquisition will enable WOA to scale up its production of Buntine Protein°, its proprietary lupin protein isolate, and access the European market through Prolupin’s established B2B network. WOA will also leverage Prolupin’s engineering expertise and technology to diversify and enhance its lupin product portfolio.
WOA values the environmental benefits of lupins, such as soil health, landscape restoration, and nitrogen fixation. The company plans to fund the acquisition through a capital raise, which will be disclosed in due course.
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