Ingredion  declared that it signed a deal with James Cameron and Suzy Amis Cameron to obtain the remaining share of ownership in Verdient Foods Inc. This acquisition will hopefully be completed by this month. The agreement was financed from the company’s available liquidity. No other terms of the deal were revealed.

Jim Zallie, President and CEO of Ingredion stated- “Acquiring 100% of the ownership in Verdient Foods allows Ingredion to boost total sales growth, further broaden our manufacturing potential and co-design with our customers to fulfill the rising consumer demand for plant-based foods. Over the last two years, we have tactically funded more than $200 million to establish a leadership position in consumer-preferred plant-based proteins, which is crux to Ingredion’s plan of action and strengthening our Driving Growth Roadmap. We are well positioned to continue capitalizing on and obtaining advantages from the megatrends driving the alterations in the global food and beverage industry. We anticipate building on the foundation set by James and Suzy Amis Cameron, who have been pioneers in running transformational change in the food industry and making a shared sustainable future for everyone.”

Valdirene Licht, senior vice president, and president AsiaPacific, Ingredion informed “In Asia-Pacific, we are watching the plant-based trend starting to go from niche to mainstream. Our latest proprietary consumer research depicts that one-third of the population in the region is already adopting a meat alleviating diet. From this tactical financing in Verdient, our region will get advantages from large-scale plant-based protein supply and continued creativity to bolster our presence in the region.”

Eric Weisser, senior director, growth platforms and marketing, Asia-Pacific, Ingredion informed- “With more and more food and beverage sectors now interested in plant-based alternatives, having a breadth of plant-based protein ingredients boosts our formulation potentials to solve the hurdles our customers come across when replicating the functionality of the proteins.”

Jim Cameron asserted- “Ingredion is really devoted to breakthrough, creative and sustainable plant based solutions, and to modernize food systems for the betterment of the planet. Our joint attempts and shared goal are about initiating change and providing advantages to consumers across the globe.”

As a consequence of the acquisition and construction of an adjacent facility, the Company will run two facilities that can create a wide array of supreme-quality, sustainable, specialty pulse-based concentrates and flours from peas, lentils and faba beans. Both facilities are situated in Vanscoy, Saskatchewan, in central Canada’s pulse-crop production area and function as a prime site for the generation and distribution of pulse-based ingredients to markets across the globe.

Author

A Zoophile scrambling the horizon for surreal subtleties, sheer poetic at heart and quite handy with life.

Write A Comment