Ingredion buys Thai rice business

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Ingredion buys Thai rice business

August 16
16:21 2016
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22751846-some-raw-thai-rice-on-a-bowl-Stock-PhotoIngredion is to acquire the rice starch and rice flour business from Sun Flour Industry of Banglen, Thailand.

The acquisition supports Ingredion’s global strategy to increase its higher-value specialty ingredients business, the company said. 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.”

“Sun Flour Industries has been an integral part of Thailand’s agricultural history, and is renowned for its quality,” said Sutipong Sitapradit, founder and president of Sun Flour Industries. “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.

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