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, 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 e.p.s. in the first year.