Ingredion to Acquire TIC Gums

Ingredion announced it has entered into a stock purchase agreement to acquire TIC Gums Incorporated. 

Its expertise with gum-based texturizers complements Ingredion’s expertise in starch technology. TIC Gums enables food innovation by combining several types of texturizers into systems that work together in foods and beverages. The company has access to a variety of agriculturally derived ingredients, such as gum acacia and guar, and a deep understanding of their performance. 

Ingredion expects to fund the USD400m cash transaction with available cash and short-term credit. Excluding one-time costs, the transaction is expected to be USD0.04 – USD0.05 accretive to adjusted EPS in the first year.

“This acquisition propels us into a new era of on-trend texture development with even more solutions for organic and clean-label demands,” explained Ilene Gordon, Ingredion chairman and CEO. 

UPDATE 

TIC’s growth has been steady since 2002. While most of its sales are in the United States, TIC recently established an R&D and manufacturing facility in Guangzhou, China, and it has go-to-market presence in China and Europe. Ingredion expects to expand it globally, particularly in emerging markets.

“TIC manages the sourcing and supply of its inputs for its portfolio, which is largely hydrocolloid-based texture systems, primarily gums, for a wide range of food and beverages. And our portfolio of starch-based textures offers even more potential to develop additional innovative texture blends that address key consumer trends, including clean label and organic”, the representatives of Ingredion told WorldBakers.