Tag: Ingredion

Ingredion expands pulse-based protein capacity, continues investment in future of sugar reduction

Editor

CANADA – Plant-based ingredient solutions provider, Ingredion Inc. has cut ribbon to its new production facility for flours and concentrates at its Canadian manufacturing assets in Vanscoy, Saskatchewan. The pulse-based protein facility which was acquired from Verdient Foods in November 2020, currently produces flours and concentrates from pulses such as peas, lentils and fava beans that are sustainably sourced from North American farms. The added capacity, which includes a new production line with proprietary processing technology, will enable food and beverage brands to answer consumer demand for sustainable, plant-based proteins…

Read More

Ingredion, MGP Ingredients post double-digit growth in Q2 buoyed by increased consumer demand

Editor

USA — American multinational food ingredients supplier Ingredion and producer of specialty wheat protein and Starches MGP Ingredients have seen record growth in Q2 sales driven by exceptionally strong consumer demand.  Ingredion’s quarterly sales for the quarter ended June 30 rose 31% to $1.76 billion mainly driven by particularly strong momentum in North America, the company’s largest business unit. Sales rose 26% to US$1.07 billion while the segment’s operating income rose 48% to US$149 million.  “North America net sales were up significantly for the quarter when compared to the prior year,” said James Derek Gray, chief financial…

Read More

Ingredion secures exclusive licensing deal for Amyris’ fermented Reb M sweetener

Editor

US – American multinational ingredient provider, Ingredion is set to expand its ingredient portfolio following the signing of an agreement with Amyris for the exclusive licensing of Amyris’ zero-calorie, nature-based, fermented Reb M sweetener at a cost of US$100 million. According to a statement from the company, US$75 million will be for the exclusive license to sell and market Reb M from fermentation while the extra 25 million will be for Ingredion’s participation in the Brazil manufacturing joint venture. With the deal, the parties will enter into an R&D collaboration…

Read More

Ingredion acquires German food solutions provider KaTech, complementing its specialty ingredients portfolio

Editor

GERMANY – American multinational ingredient provider, Ingredion has acquired KaTech, a German provider of advanced texture and stabilization solutions, effectively expanding its specialty ingredients portfolio. The acquisition comes five months after Ingredion agreed to acquire the remaining stake in Verdient Foods, taking its ownership of the plant-based protein joint venture to 100%. KaTech offers a variety of solutions that assist food and beverage manufacturers with product formulation, ingredient functionality and technical assistance. The firm is said to have application expertise in areas such as stabilisation, texture enhancement, protein enrichment and…

Read More

Ingredion expands presence in South America through partnership with Argentina’s Grupo Arcor

Editor

ARGENTINA – Global ingredient solutions provider to the food and beverage industry Ingredion has partnered with Argentina’s Grupo Arcor to create a new food ingredients joint venture for the South America region. Arcor is a leading food company in Argentina, the first global producer of hard candy, and the main confectionery exporter in Argentina, Chile, and Peru. It has more than 40 industrial plants with a daily production volume that amounts to 3 million kilograms and brands that are reportedly sold in more than 100 countries worldwide. In a statement,…

Read More

Ingredion’s 2020 full year profits drop 16% due to Covid-19

Editor

US – 2020 was not an easy year for many food companies and global food ingredients manufacturer Ingredient was not an exception. The Westchester, Illinois based company reported full year profits of US$349 million, a 16% decline from the company’s performance a year ago. Sales during the year were severely battered by disruptions in food processing operations, ending 4% lower than the sales of 2019. Although overall profits was down, the company’s fourth-quarter net income rose 6% to US$115 million, equal to US$1.71 per share while sales rose 3% to…

Read More

Canada’s plant-based protein industry poised for further growth following new investments by major food companies

Editor

CANADA – Canada plant-based protein industry is poised to grow into new heights following an of CA$25.7 million (US$19.6 million) by major food and ingredient companies to increase the functionality of plant-based proteins and co-products. According to a Food Dive report, half of the funds (US$9.7 million) was contributed by Ingredion, Ingredion Plant Based Protein Specialties (Canada), Verdient Foods, T Base 4 Investments and O.M.D. Food Products. Protein Industries Canada, an industry-led, not-for-profit organization, which is one of Canada’s five Innovation Superclusters is reported to have matched the amount provided…

Read More

Ingredion results recover in Q3 as effect of Covid-19 taper off

Editor

US — The influence of COVID-19’s effect on away-from-home activities lessened somewhat in the third quarter enabling Ingredion to perform better than it did in the second quarter. Net sales in Q3 amounted to US$1.55 billion, a 13% increase from the US$1.349 billion recorded in Q2. Despite of better performance in Q3, Ingredion sales were still low when compared to pre-Covid-19 times. Net income attributable to Ingredion in the third quarter was $92 million, a 7% decline from $99 million recorded in the previous year’s third quarter. Net sales for…

Read More

Ingredion to acquire full ownership of plant-based protein maker Verdient Foods

Editor

CANADA – Ingredion Inc. has entered into an agreement with its joint venture partners to acquire 100% of Verdient Foods Inc., a manufacturer of plant-based protein based in Vanscoy, Canada. As a result of the acquisition, Ingredion will operate two facilities that can produce a range of specialty pulse-based concentrates and flours from peas, lentils and fava beans. The acquisition of the Verdient Foods comes at a time when demand for plant-based protein is increasing as consumers preferences shift to a more nutritional diet centered towards a more sustainable lifestyle…

Read More

Ingredion opens new plant-based protein manufacturing facility as part of its US$185m investment

Editor

USA – Plant-based ingredient solutions provider, Ingredion has cut ribbon of its newly built state-of-the-art plant-based protein manufacturing facility in South Sioux City, Nebraska, midwestern USA. The newly opened facility, according to Ingredion will produce high-quality protein isolates primarily for the nutrition, health and wellness categories. “We’re excited to take this next step to further advance our specialties strategy and capitalize on the global trends shaping the food industry,” said Jim Zallie President and Chief Executive Officer Ingredion. “As demand for food and beverages with plant-based proteins continues to grow,…

Read More