WESTCHESTER, Ill. – Ingredion Inc. announced Dec. 20 that it has acquired TIC Gums, an advanced texture systems company serving the food and beverage industry, for $400 million. The deal is expected to close by the end of 2016, subject to customary closing conditions.
“As a leader in texture systems for decades, TIC Gums has grown significantly over the past several years through its deep R&D expertise and a differentiated and focused approach to the customer experience,” said Ingredion chairman and CEO Ilene Gordon. “The team has an excellent track record in developing and delivering proprietary, customized systems. This acquisition propels us into a new era of on-trend texture development with even more solutions for organic and clean-label demands,” Gordon explained.
TIC Gums enables food innovation by combining several types of texturizers into systems that work with 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.
The acquisition will expand Ingredion’s higher-value specialty portfolio and customer base in the fast-growing segment of small-to-medium-sized food and beverage companies.
“TIC Gums’ and Ingredion’s strengths complement each other perfectly. We share a vision around the importance of texture and stabilization in food and beverage formulation,” said TIC Gums president Gregory Andon. “By coming together, we will truly be able to focus on the correct technical solutions for our customers whether they be starch, gum or systems containing both.”