- Freedom Foods has entered into a long-term supply agreement for Lactoferrin with an undisclosed global pharmaceutical company
- Lactoferrin is an iron-binding protein found in dairy products, especially milk and used across the globe in a variety of food and medicinal products
- Freedom is seeing a strong customer demand and expects it will sell its entire production of native whey protein, isolate, micellar casein and lactoferrin in FY 2020
- The company has completed a $130 million equity raising to expand its capacity to process its nutritional ingredients
Freedom Foods has entered into a long-term supply agreement for Lactoferrin with an undisclosed global pharmaceutical company.
The supply agreement will utilise a significant component of current and planned capacity for Lactoferrin at Freedom Foods’ nutritional ingredients facility in Shepparton, Victoria.
The company has recently claimed its Shepparton production facility will produce approximately 16,000 tonnes of lactoferrin per year.
Lactoferrin is an iron-binding protein found in dairy products, especially milk. Lactoferrin is known for its anti-microbial, anti-inflammatory and immunological properties. The high-value ingredient is used across the globe in a variety of nutritional food products such as medicinal products and formula for infants.
Due to the high-value ingredient, the company is seeing a strong customer demand and expects it will sell its entire production of native whey protein, isolate, micellar casein and lactoferrin in FY 2020.
Recently, the company has completed a $130 million equity raising to expand its capacity to process its nutritional ingredients. It is the second capital raising since March 2018 when the company raised $200 million to process its ingredients and upgrade its processing plants.
These investments are validated by a highly evident growing demand from brands and consumers from Australia, south-east Asia and China.
Additionally, Freedom Foods is well progressed on commercialising its key ingredients into applications under its own brands including in Performance and Adult Nutrition.