top of page

The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

FoodBev Media Logo
Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

Ingredion completes sale of South Korea business
FoodBev Media

FoodBev Media

2 February 2024

Ingredion completes sale of South Korea business

Ingredion has completed the sale of its business in South Korea to an affiliate of the Sajo Group, a Seoul-based food company. The transaction, announced in November and now concluded, amounts to around $294 million. On 1 February, Ingredion received $247 million after subtracting transaction costs and expects to receive the remaining $47 million over the next three years. Jim Zallie, president and chief executive officer of Ingredion, said: “The sale of our business in South Korea is an important step for Ingredion as we reshape our portfolio to unlock value and redeploy assets, creating value for shareholders. This action is part of our business transformation journey that further strengthens our focus on growth and supports our long-term strategic vision.” In the entirety of 2023, Ingredion's operations in South Korea reported unaudited net sales of $325 million. You may also like to read:

Related posts
DSM-Firmenich offloads yeast business to Lesaffre
Mergers & Acquisitions

DSM-Firmenich offloads yeast business to Lesaffre

EIT Food RisingFoodStars unveils start-up cohort for agri-food-tech initiative
Business

EIT Food RisingFoodStars unveils start-up cohort for agri-food-tech initiative

TDR Capital becomes majority owner of Asda
Retail

TDR Capital becomes majority owner of Asda

Smithfield Foods to acquire dry sausage facility from Cargill
Mergers & Acquisitions

Smithfield Foods to acquire dry sausage facility from Cargill

Campbell explores strategic alternatives for Noosa yogurt brand
Mergers & Acquisitions

Campbell explores strategic alternatives for Noosa yogurt brand

Soli Organic opens new soil-based vertical farm in Texas
Agriculture

Soli Organic opens new soil-based vertical farm in Texas

bottom of page