Japanese conglomerate Mitsui & Co. has invested in US egg-free spread maker Hampton Creek, the owner of controversial brand Just Mayo.
Mitsui has invested US$15m in the business. Further details on the deal were not disclosed.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Japanese group said it had entered into the agreement as demand for “new sources of food that the world provides naturally through plants” increases.
It claimed the deal meant it would “contribute to increased food production and the supply of safe, dependable food through participation in the use of nutritional science, which is a brand new concept, by producing plant proteins that can be used as alternatives to animal proteins”.
The investment would also support Hampton Creek’s research into sustainable and affordable food development, Mitsui added.
Hampton Creek is building what it claims is the world’s largest database classifying plant proteins based on its functional and molecular characteristics. Hampton Creek’s plant research will be used in a range of food applications in the future, making them suitable as a food ingredient that can be used in place of chicken eggs in mayonnaise and other products.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHampton Creek’s flagship brand, Just Mayo, has found itself in the spotlight in recent months.
Last month, the US Food and Drug Administration said Hampton Creek was breaking the country’s labelling rules due to the absence of egg in Just Mayo. Under US regulations, products marketed as mayonnaise or mayo must contain eggs, the FDA said in a letter to Hampton Creek sent on 12 August but made public two weeks later.
The FDA said the action had been sparked by a complaint, although it did not disclose in its correspondence with just-food nor in the letter to Hampton Creek the identity of the complainant.
Last year, Unilever withdrew a lawsuit against Hampton Creek in which it accused the company of deceiving customers with Just Mayo.
“Unilever has decided to withdraw its lawsuit against Hampton Creek so that Hampton Creek can address its label directly with industry groups and appropriate regulatory authorities,” Mike Faherty, vice president for foods at Unilever North America, said at the time. “We applaud Hampton Creek’s commitment to innovation and its inspired corporate purpose. We share a vision with Hampton Creek of a more sustainable world. It is for these reasons that we believe Hampton Creek will take the appropriate steps in labelling its products going forward.”
