Ministry for Primary Industries director-general Wayne McNee announced approved co-funding from the Primary Growth Partnership (PGP) for the new Foodplus programme.
The PGP Fund is committing NZ$43.5m over seven years for the programme, to be run by Anzco Foods. It will be worth $87m in total.
Foodplus will identify opportunities to create new products, with a particular focus on parts of the beef carcass that currently generate less value. Anzco has identified food, ingredients and healthcare as markets for innovative new products.
“Adding further value to the carcass is essential for the future success of the meat industry,” said McNee. “Anzco’s vision for Foodplus is relevant and bold, and now backed by a significant investment.”
Rennie Davidson, CEO of Anzco’s Food & Solutions division, said: “It is a large-scale project that wouldn’t be achievable without collaboration.”