Ingredion Invests in NorQuin Extending Plant-Based Protein Portfolio to Globally Distribute Quinoa Flours With Exclusive Comm...
May 13 2020 - 8:30AM
Ingredion Incorporated (NYSE: INGR), a leading global provider of
ingredient solutions to the food manufacturing industry, announced
today that it has entered into an exclusive commercial agreement
with Northern Quinoa Production Corporation ("NorQuin") to globally
distribute and market NorQuin's quinoa flours, which will be grown
and milled in the Canadian plains. In addition to the
commercial exclusivity, the Company has concluded a financial
agreement, which includes the option of a future equity investment
in NorQuin.
“We are excited to enter into an agreement with NorQuin to
further expand our specialties portfolio with quinoa flours and
capitalize on the plant-based protein trend shaping the global food
industry,” said Jim Zallie, Ingredion’s president and CEO.
“Consumers today are looking for foods and beverages made with real
ingredients that are familiar, trusted, sustainably sourced and
authentic. This latest investment complements our pulse-based
protein portfolio, unlocks future growth opportunities and enhances
our ability to co-create with our customers to deliver
consumer-preferred foods and beverages that are nutritious and
taste great.”
“Consumer demand for plant-based protein is rapidly growing
around the world, and we want to offer a full range of solutions
that best meet our customers' needs,” said Tony DeLio, senior
vice president, corporate strategy and chief innovation officer.
“Quinoa is a grain, which has nutritional value that is
complementary to pulses, such as peas and lentils. NorQuin has
invested more than two decades of research to develop proprietary
and high-yielding quinoa. Working with NorQuin, we have the
opportunity to further innovate and commercialize novel
quinoa-based protein offerings for food manufacturers.”
“We aim to make quinoa more accessible so we can improve human
health and the resource efficiency of the foods that we eat. Our
new partnership with Ingredion will help us do that at scale,” said
Aaron Jackson, CEO of NorQuin. “Ingredion’s global reach,
deep-rooted distribution channels and R&D expertise will help
accelerate our growth and deliver on our mission.”
ABOUT NORQUINNorQuin, based in Saskatchewan
Canada, is a technology driven, vertically integrated supplier of
quinoa and quinoa derivative products. It has been developing
high-yielding, novel varieties of quinoa for more than 20 years
that are optimal for Canada’s growing regions. The Company only
breeds non-GMO varietals with strong yield and all crops can be
traced back to the farm. These products will augment Ingredion's
existing portfolio of pulse-based flours to include quinoa-based
flours for use in snacks, crackers, baked goods, as well as dairy
and meat alternatives. Quinoa has very strong label appeal for
consumers due to its complete protein profile that contains all
nine essential amino acids that humans need. You can learn
more at quinoa.com.
ABOUT THE COMPANYIngredion Incorporated (NYSE:
INGR) headquartered in the suburbs of Chicago, is a leading global
ingredient solutions provider serving customers in more than 120
countries. With 2019 annual net sales of more than $6 billion, the
Company turns grains, fruits, vegetables and other plant-based
materials into value-added ingredient solutions for the food,
beverage, animal nutrition, brewing and industrial markets. With
Ingredion Idea Labs® innovation centers around the world and
more than 11,000 employees, the Company co-creates with customers
and fulfills its purpose of bringing the potential of people,
nature and technology together to make life better. Visit
ingredion.com for more information and the latest Company news.
CONTACTS:
Investors: Tiffany Willis, 708-551-2592
Media: Becca Hary, 708-551-2602
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