Who Owns Verdient Foods?

Verdient Foods was founded in 2007 in Saskatchewan, Canada, in the heart of one of the world's most productive pulse-growing regions. Saskatchewan is a major global producer of peas, lentils, chickpeas, and other pulses, providing Verdient Foods with proximity to high-quality raw material sources for its plant-based protein and flour processing operations.

Pulses are leguminous crops that are valued both for their nutritional properties, including high protein content and dietary fiber, and for their agronomic benefits, including nitrogen fixation that reduces the need for synthetic fertilizers. Saskatchewan's pulse production, particularly yellow peas, provides the primary raw material for Verdient Foods' pea protein concentrate and pea flour products.

Verdient Foods developed processing capabilities to fractionate pulses into their constituent components, separating the protein, starch, and fiber fractions to create functional ingredients for food and beverage applications. Pea protein concentrate, the company's primary product, is a plant-based protein ingredient used in meat alternatives, dairy alternatives, protein beverages, snacks, and other food products seeking to increase protein content with a plant-based source.

The plant-based food movement, which gained significant momentum through the 2010s as consumers increasingly sought plant-based alternatives to animal-derived foods, created growing demand for plant-based protein ingredients. Verdient Foods was positioned to serve this demand with its Saskatchewan-based pea protein processing capabilities.

In 2018, Ingredion Incorporated entered a joint venture with Verdient Foods, recognizing the strategic importance of plant-based proteins to its specialty ingredient portfolio. The joint venture provided Verdient Foods with access to Ingredion's global distribution network and customer relationships, while giving Ingredion a platform in the growing plant-based protein ingredient market.

In 2020, Ingredion completed the full acquisition of Verdient Foods, making it a wholly-owned subsidiary. The acquisition aligned with Ingredion's broader strategy of expanding its specialty and plant-based ingredient portfolio. Ingredion's FY2024 net sales were approximately $7.2 billion, reflecting the scale of the parent company within which Verdient Foods operates.

Following the acquisition, Verdient Foods continued to operate from its Saskatchewan base, with Ingredion investing in the facility to expand pea protein processing capacity to meet growing customer demand.