CJ Cheiljedang Corp., South Korea's leading maker of processed foods, said Monday it has completed the acquisition of a Brazilian company to expand its foothold in the vegetable protein business.

Earlier in June, the Korean firm announced its plan to buy Selecta, a Brazilian company that manufactures soy protein concentrate, for 360 billion won ($320 million). It is a world-leading manufacturer of sustainable vegetable protein with sales reaching some 400 billion won last year. Its 2016 operating income stood at 55 billion won, according to CJ Cheiljedang.