WESTCHESTER, ILL. — Ingredion, Inc. has completed its acquisition of PureCircle Ltd. and named a new chief executive officer and a new chief financial officer for the stevia supplier, Westchester-based Ingredion said July 1.
Tony DeLio will serve as CEO of PureCircle and will remain chief innovation officer of Ingredion. SukGu Kim, who was the finance director for PureCircle in Asia-Pacific, will become CFO for PureCircle. Ingredion now owns 75% of PureCircle, a subsidiary. Former PureCircle shareholders own the other 25%.
“This is a significant step forward as we advance our driving growth roadmap and further align our sugar reduction and specialty sweetener platform to the megatrends in the food and beverage industry,” said James P. Zallie, president and CEO of Ingredion. “PureCircle provides substantial growth potential that is aligned with our strategy to create long-term shareholder value.”
Founded in 2002, PureCircle combines research and development with vertical integration from farm to the creation of stevia-based sweeteners. Ingredion’s acquisition of PureCircle initially was reported in April.