Ingredion completes acquisition of TIC Gums

by Matt Hamer
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TIC Gums facility
Ingredion has completed the acquisition of TIC Gums.
 

WESTCHESTER, ILL. — Ingredion, Inc. has completed the acquisition of TIC Gums, Inc., White Marsh, Md., a privately-held company that provides advanced texture systems to the food and beverage industry. The companies announced the acquisition in December 2016.

Ilene Gordon, Ingredion
Ilene Gordon, chairman and c.e.o. of Ingredion

“Consistent with our strategic blueprint, this acquisition expands our higher-value specialty portfolio,” said Ilene Gordon, chairman and chief executive officer of Ingredion. “It also enhances our texture capabilities and formulation expertise. Ingredion is now a comprehensive texture solutions provider with even more solutions for natural, organic and clean label demands.”

Ingredion used $400 million in cash and short-term credit to fund the acquisition, which is expected to be 4c to 5c accretive to adjusted EPS in the first year.

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