Ingredion Incorporated (NYSE: INGR), a leading global provider of
ingredient solutions to the food and beverage industry, announced
today that it has acquired KaTech, a privately held company
headquartered in Lübeck, Germany that provides advanced texture and
stabilization solutions to the food and beverage industry. The
acquisition complements Ingredion’s existing specialty ingredient
portfolio by expanding its Food Systems platform with a
comprehensive suite of innovative solutions that assist food and
beverage manufacturers with product formulation, ingredient
functionality and technical assistance. Terms of the acquisition
were not disclosed.
“KaTech has deep food formulation expertise which complements
our leading texture business in Europe,” said Jim Zallie,
Ingredion's president and chief executive officer. “The addition of
KaTech enhances our ability to formulate customized, complete food
solutions leveraging Ingredion’s expanded ingredient portfolio. It
also expands the geographic footprint of our Food Systems growth
platform complementing our positions in the U.S. and Asia.”
“We are committed to working together to continue to meet
KaTech’s customers’ needs and building upon their world-class
reputation in specialties for technical depth, applications
know-how, and innovative texturizing solutions that create value
for foods and beverages,” said Pierre Perez y Landazuri,
Ingredion’s senior vice president, texture, protein and performance
specialties.
“Our customers will benefit from a comprehensive suite of
nature-based ingredients with access to tailored solutions and
unrivalled speed to market,” added Mike O’Riordan, Ingredion’s
president of Europe, Middle East and Africa (EMEA). “Ingredion’s
complementary geographic reach will enable the KaTech business to
thrive and continue growing.”
ABOUT KATECHFounded in 2010, KaTech has four
locations: two in Germany, one in the United Kingdom, and one in
Poland with approximately 95 employees. The company develops
bespoke food system solutions designed to help its customers bring
products to market faster, solve technical problems and optimize
product costs. KaTech has a strong focus on plant-based, dairy and
dairy alternatives, meat and fish, savory, and bakery products
providing a high level of technical expertise and formulation
capabilities for texturization and stabilization and clean and
simple formulations. The company has expertise both in ingredient
functionality and applications including areas, such as
stabilization, texture enhancement, protein protection and
enrichment, mouthfeel improvement, and emulsification.
ABOUT INGREDIONIngredion Incorporated (NYSE:
INGR) headquartered in the suburbs of Chicago, is a leading global
ingredient solutions provider serving customers in more than 120
countries. With 2020 annual net sales of $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 approximately
12,000 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.
Forward-looking Statement
This release contains or may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Ingredion Incorporated (the “Company”) intends these
forward-looking statements to be covered by the safe harbor
provisions for such statements.
Forward-looking statements include, among others, any statements
regarding the Company's prospects, future operations or future
financial condition, including expectations regarding impacts of
COVID-19, the Company's net sales, operating income, margins, rates
of returns from capital projects, project pipeline and earnings, as
well as management's plans or strategies and goals or objectives
therefor, and any assumptions, expectations or beliefs underlying
the foregoing.
These statements can sometimes be identified by the use of
forward looking words such as "may," "will," "should,"
"anticipate," "assume," "believe," "plan," "project," "estimate,"
"expect," "intend," "continue," "pro forma," "forecast," "outlook,"
"propels," "opportunities," "potential," "provisional," or other
similar expressions or the negative thereof. All statements other
than statements of historical facts in this presentation or
referred to in or incorporated by reference into this presentation
are "forward-looking statements."
These statements are based on current circumstances or
expectations, but are subject to certain inherent risks and
uncertainties, many of which are difficult to predict and beyond
our control. Although we believe our expectations reflected in
these forward-looking statements are based on reasonable
assumptions, investors are cautioned that no assurance can be given
that our expectations will prove correct.
Actual results and developments may differ materially from the
expectations expressed in or implied by these statements, based on
various factors, including the impact of COVID-19 on the demand for
our products and our financial results; changing consumption
preferences relating to high fructose corn syrup and other products
we make; the effects of global economic conditions and the general
political, economic, business, and market conditions that affect
customers and consumers in the various geographic regions and
countries in which we buy our raw materials or manufacture or sell
our products, including, particularly, economic and political
conditions in Europe, and the impact these factors may have on our
sales volumes, the pricing of our products and our ability to
collect our receivables from customers; future financial
performance of major industries which we serve and from which we
derive a significant portion of our sales, including, without
limitation, the food, beverage, animal nutrition, and brewing
industries; the uncertainty of acceptance of products developed
through genetic modification and biotechnology; our ability to
develop or acquire new products and services at rates or of
qualities sufficient to gain market acceptance; increased
competitive and/or customer pressure in the corn-refining industry
and related industries; the availability of raw materials,
including potato starch, tapioca, gum Arabic, and the specific
varieties of corn upon which some of our products are based, and
our ability to pass along potential increases in the cost of corn
or other raw materials to customers; energy costs and availability,
including energy issues in Pakistan; our ability to contain costs,
achieve budgets and realize expected synergies, including with
respect to our ability to complete planned maintenance and
investment projects on time and on budget and to achieve expected
savings under our Cost Smart program as well as with respect to
freight and shipping costs; the behavior of financial and capital
markets, including with respect to foreign currency fluctuations,
fluctuations in interest and exchange rates and market volatility
and the associated risks of hedging against such fluctuations; our
ability to successfully integrate the KaTech businesses with our
current business operations; operating difficulties at our
manufacturing facilities; the impact of impairment charges on our
goodwill or long-lived assets; changes in our tax rates or exposure
to additional income tax liability; our ability to maintain
satisfactory labor relations; the impact on our business of natural
disasters, war or similar acts of hostility, threats or acts of
terrorism, the outbreak or continuation of pandemics such as
COVID-19, or the occurrence of other significant events beyond our
control; changes in government policy, law, or regulation and costs
of legal compliance, including compliance with environmental
regulation; potential effects of climate change; security breaches
with respect to information technology systems, processes, and
sites; our ability to raise funds at reasonable rates and other
factors affecting our access to sufficient funds for future growth
and expansion; volatility in the stock market and other factors
that could adversely affect our stock price; risks affecting the
continuation of our dividend policy; and our ability to remediate
in a timely manner a material weakness in our internal control over
financial reporting.
Our forward-looking statements speak only as of the date on
which they are made and we do not undertake any obligation to
update any forward-looking statement to reflect events or
circumstances after the date of the statement as a result of new
information or future events or developments. If we do update or
correct one or more of these statements, investors and others
should not conclude that we will make additional updates or
corrections. For a further description of these and other risks,
see "Item 1A. Risk Factors" included in our Annual Report on Form
10-K for the year ended December 31, 2020 and in our subsequent
reports on Form 10-Q and Form 8-K.
CONTACTS:Investors: Tiffany Willis,
708-551-2592Media: Becca Hary, 708-551-2602
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