Ingredion to acquire TIC Gums for $400m
Ingredion is to acquire TIC Gums, which provides texture and stability solutions using gum and hydrocolloid ingredient technology, in a deal worth $400 million.
The deal, which is expected to close by the end of the year, subject to customary closing conditions, will expand Ingredion’s speciality portfolio, customer base and texture expertise. Together, Ingredion and TIC Gums aim to offer a wide range of texture capabilities, superior formulation expertise and rapid response to customer needs.
TIC Gums combines several types of texturizers into systems that work together in foods and beverages. The company has access to a variety of agriculturally derived ingredients, such as gum acacia and guar, which form the foundation for clean-label reformulation.
“This acquisition propels us into a new era of on-trend texture development with even more solutions for organic and clean-label demands,” explains Ilene Gordon, Ingredion chairman and CEO. “Combined with Ingredion’s global presence and portfolio of starch-based texturizers, there’s even more opportunity for robust growth and expansion.”
TIC Gums president Gregory Andon, added, “TIC Gums’ and Ingredion’s strengths complement each other perfectly. We share a vision around the importance of texture and stabilisation 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.”
TIC operates two production facilities, one in the US and one in China, as well as research and development laboratories in both countries.
