The agreement was signed in the presence of Prime Minister Abiy Ahmed and the Nigerian business tycoon, Aliko Mohammad Dangote.
The Ranchito is expected to produce thousands of metric tons of biomass annually, yielding hundreds of metric tons of protein.
Each Prolon L-Protein Bar contains 14 grams of protein and only 170 calories.
Each sandwich is individually wrapped and sold in four-count boxes for US$8.99.
The acquisition includes three production facilities located in Carrington, North Dakota; New Hope, Minnesota; and Winchester, Virginia, along with the well-known Ronzoni retail pasta brand.