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Ingredion Inc. and PureCircle Ltd. have reached an agreement in which Ingredion will acquire the controlling 75% stake in PureCircle.
Ingredion Inc. (Chicago, IL) and PureCircle Ltd. (Chicago, IL) have reached an agreement in which Ingredion will acquire the controlling 75% stake in PureCircle. The proposed acquisition has been approved by the boards of both companies and expected to close during the second half of 2020, subject to approval by PureCircle’s shareholder and regulatory approvals.
“PureCircle is a widely recognized innovator with a proven track record for producing great-tasting, plant-based stevia. Ingredion’s successful and global go-to-market model combined with our formulation expertise will be highly complementary with PureCircle’s capabilities,” said Ingredion’s president and chief executive officer Jim Zallie, in a press release.
“We at PureCircle are glad to have found a strong partner in Ingredion who shares our mission of encouraging healthy diets around the world and being the preferred supplier of high-purity, great-tasting stevia ingredients for the global food and beverage industry,” said Peter Lai Hock Meng, CEO of PureCircle, in a press release. “This acquisition should excite the current and potential customers of both companies, as the combined companies will be able to serve our customers with better services, wider product range and extend deeper into the global, regional and local markets.”