Former Merit Functional Foods Plant Protein Facility Nears Sale After Extended Receivership

Formerly operated by Merit Functional Foods, the plant protein processing facility in Winnipeg is nearing a sale after being idle for over two years due to the company's receivership. PricewaterhouseCoopers (PwC) has submitted a request to finalize the sale, with details of the purchase price currently under court order until the transaction is complete. The Winnipeg facility was a joint venture involving Burcon NutraScience, Bunge Corporation, and former executives of Hemp Oil Canada, but financial difficulties led to Merit entering receivership in 2023.

Burcon NutraScience had previously attempted to reacquire the facility, but negotiations failed, and PwC conducted an extensive sales process attracting over 100 interested parties, culminating in an asset purchase agreement with a Manitoba-based numbered company. The sale could mark the revival of plant protein production in Winnipeg or see the assets repurposed under new ownership, pending court approval and the finalization of the transaction.