Ingredion Inc., Westchester, Ill., announced Dec. 20 it has entered into a stock purchase agreement to acquire all outstanding shares of TIC Gums Inc., White Marsh, Md., a U.S. company that provides advanced texture systems for food & beverages. TIC Gums combines several types of texturizers into systems that work synergistically in foods and beverages. The privately held company has access to and a deep understanding for various agriculturally derived ingredients, such as gum acacia and guar. Its expertise with gum-based texturizers complements Ingredion’s expertise in starch technology, Ingredion explained in a statement.
The acquisition has been approved by Ingredion’s board of directors and the stockholders of TIC Gums. It's expected to close by the end of the year, subject to customary closing conditions.
"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 Ilene Gordon, Ingredion's chairman and CEO. "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.
Combined with Ingredion’s global presence and portfolio of starch-based texturizers, there’s even more opportunity for robust growth and expansion, Gordon added.
TIC operates two production facilities, one in the U.S. and another in China, as well as state-of-the-art R&D labs in both countries. The company conducts business worldwide and employs more than 200 people.
"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. Ingredion’s global footprint will enable us to achieve our geographical expansion goals much faster than we otherwise could on our own. We believe our business model strength in clean-label formulation with the most dynamic players in the food and beverage space has significant untapped potential on the global stage."