Ingredion has entered into a definitive agreement to acquire the rice starch and rice flour business from Sun Flour Industry Co, Ltd. based in Banglen, Thailand.
The acquisition supports Ingredion’s global strategy to increase its higher-value specialty ingredients business and has been approved by its board of directors.
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,” said Jorgen Kokke, senior VP and president, Asia Pacific and EMEA.
“Plus, its superior functionality makes it ideal for a variety of uses, including baby foods, dairy products, snacks and gluten-free bakery.”
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.
