Ingredion acquires Tic Gums22 Dec 2016
Ingredion has acquired TIC Gums for $400 million, saying that the latter’s expertise with gum-based texturizers complements Ingredion’s expertise in starch technology and, opening the door to new texture solutions.
Ingredion has acquired TIC Gums for $400 million, saying that the latter’s expertise with gum-based texturizers complements Ingredion’s expertise in starch technology and, opening the door to new texture solutions for today’s food formulations.The acquisition will, it said, expand Ingredion’s higher-value specialty portfolio and customer base in the fast-growing segment of small-to-medium-sized food and beverage companies that are driving industry innovation.“As a leader in texture systems for decades, TIC Gums has grown significantly over the past several years through its deep R&D expertise and a differentiated and focused approach to the customer experience,” said Ilene Gordon, Ingredion chairman and CEO. “The team has an excellent track record in developing and delivering proprietary, customized systems. This acquisition propels us into a new era of on-trend texture development with even more solutions for organic and clean-label demands. Combined with Ingredion’s global presence and portfolio of starch-based texturizers, there’s even more opportunity for robust growth and expansion.”“TIC Gums’ and Ingredion’s strengths complement each other perfectly,” said TIC Gums President Gregory Andon. “We share a vision around the importance of texture and stabilization in food and beverage formulation. By coming together, we will truly be able to focus on the correct technical solutions for our customers whether they be starch, gum or systems containing both. Ingredion’s global footprint will enable us to achieve our geographical expansion goals much faster than we otherwise could on our own. We believe our business model strength in clean-label formulation with the most dynamic players in the food and beverage space has significant untapped potential on the global stage.”TIC operates two production facilities, one in the United States and one in China, and state-of-the-art R&D labs in both countries. The company conducts business worldwide and employs over 200 people.
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