Ingredion to acquire rice starch and flour business in Thailand

INGREDION Incorporated (NYSE: INGR) will acquire the rice starch and rice flour business of Sun Flour Industry Co, Ltd. based in Banglen, Thailand. 

The leading global provider of ingredient solutions to diversified industries said the venture supports its global strategy to increase its higher-value specialty ingredients business. It has the approval of Ingredion’s board of directors, while it is subject to approval by Thai government authorities as well as to other customary closing conditions. Details of the transaction have not been disclosed.

“Rice is an on-trend ingredient. It is non-GMO, hypoallergenic and gluten free. Plus, its superior functionality makes it ideal for a variety of uses, including baby foods, dairy products, snacks and gluten-free bakery,” said Jorgen Kokke, Ingredion senior vice president and president, Asia Pacific and EMEA. “This acquisition enhances our global supply chain and leverages other capital investments we’ve made in Thailand to grow our specialty ingredients and service customers around the world,” he said.

Sutipong Sitapradit, founder and president of Sun Flour Industries, said, “Sun Flour Industries has been an integral part of Thailand’s agricultural history, and is renowned for its quality. Ingredion’s global presence is a growth opportunity for the rice business. It provides career opportunities for the employees and helps position Thailand as a production and export base for value-added, rice-based food ingredients.” 

Once the acquisition is complete, Ingredion will have four manufacturing facilities and 870 employees in Thailand, including the 120 employees joining the company from Sun Flour.