WESTCHESTER, ILL. — Ingredion Inc. has agreed to acquire Salem, Ore.-based Kerr Concentrates, Inc. in a transaction valued at approximately $100 million. Kerr is a privately held producer of natural fruit and vegetable concentrates, purees and essences that operates two production facilities in Salem and Oxnard, Calif.
“Kerr is a profitable company with an exciting portfolio of value-added ingredients that will broaden our current line of wholesome, clean label solutions,” said Ilene Gordon, chief executive officer of Ingredion. “Kerr transforms fruits and vegetables into natural ingredients that resonate with consumers and are increasingly in demand by customers.”
According to Ingredion, Kerr’s ingredients uphold the “integrity and richness” of raw fruits and vegetables while providing multiple functionalities. The ingredients may be used to enhance the nutrition, texture, flavor and appearance of a number of foods and beverages across a variety of categories, from smoothies, juices, dairy products and baked goods to soups and dressings, the company said.
“This is an opportunity to grow Kerr’s portfolio with our advanced technologies and product-development capabilities,” Ms. Gordon said. “And we intend to expand the business with our broad customer network and global presence.”
She added the trend toward simple ingredients has led Ingredion to expand its clean label ingredient portfolio.“This extends our clean label offerings beyond ingredient solutions made from corn, tapioca and potato, and we continue to look for acquisition opportunities in this space,” Ms. Gordon said.