Inghams Group has bought a 10% stake in Australian protein-ingredients supplier Just Meat Protein (JMP) in a seed financing round.
The publicly listed poultry processor has invested A$1.05m (US$729,881) in the seed round.
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JMP holds an exclusive worldwide licence to CSIRO-developed hydrolysis technology, which turns meat into “allergen-free” powdered protein ingredients.
The product is aimed at sectors including sports nutrition, a US$27bn market projected to grow “strongly” according to Inghams research.
Its potential markets also extend to meal replacement, and specialty nutrition such as military and space applications.
“The investment allows us to secure an early and strategically advantaged position in a category we believe has significant growth ahead of it,” said Ed Alexander, the CEO and managing director of Inghams.
As part of the deal, Caroline Hayes, the chief growth officer of Inghams, will take a seat on the JMP board.
In a LinkedIn post, JMP said: “This raise takes us into our next phase of scaling up to commercial production and launch in the next six months.”
Besides, Inghams has entered an exclusive “first-right supply” arrangement with JMP in Australia.
Ellie Whelan, the CEO and co-founder of JMP, said: “A growing population, the rapid rise in GLP-1 use, and the shift towards more conscious consumers are all feeding a huge growth in demand for new protein sources. For us here at Just Meat Protein, to be able to solve for this problem through targeting low-value cuts is not only a commercial win, but a positive shift towards a more sustainable food system.”
In February, Inghams lowered its earnings guidance for the 2026 financial year.
The poultry giant now expects full-year underlying earnings to range between A$180m and A$200m, down from its earlier estimate for “pre AASB 16” underlying EBITDA of A$215m-A$230m.
“A key driver of the guidance revision relates to the timing of the realisation of the operational improvements that are being made,” the company said at the time.
It added: “The measures that have been implemented are taking longer than initially anticipated to translate into financial results and are now expected to be more heavily weighted towards the final quarter of FY26.”
