Ingredients solutions provider Ingredion has agreed to acquire concentrates, purées and essences producer Kerr Concentrates for approximately $100m.
The transaction includes Oregon-based Kerr’s two production facilities, which feature the capability to ensure consistent quality, efficiency and safety through process design, automation and innovation, Ingredion said. The deal is expected to close within 30 business days.
Kerr’s products fall in line with the growing trend towards clean-label offerings: earlier this week, we reported on research from the GNT Group that suggested consumers were seeking simpler ingredients lists as the contents of a product gain increasing influence over their purchasing behaviour.
Ingredion CEO Ilene Gordon said: “Kerr is a profitable company with an exciting portfolio of value-added ingredients that will broaden our current line of wholesome, clean-label solutions. Kerr transforms fruits and vegetables into natural ingredients that resonate with consumers and are increasingly in demand by customers.”
“This is an opportunity to grow Kerr’s portfolio with our advanced technologies and product-development capabilities. And we intend to expand the business with our broad customer network and global presence.
“This extends our clean-label offerings beyond ingredient solutions made from corn, tapioca and potato, and we continue to look for acquisition opportunities in this space.”
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