Ingredion acquires Kerr Concentrates
$100-million deal will broaden company’s portfolio of clean-label ingredients.
Ingredion Inc., known for its nature-based sweeteners, starches, and nutrition ingredients and biomaterial solutions, will acquire the assets of Kerr Concentrates, Inc.
Kerr Concentrates, Inc is a privately privately held producer of natural fruit and vegetable concentrates, purees and essences.
The $100-million acquisition is expected to close within 30 business days.
“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,” says Ilene Gordon, ceo, Ingredion.
Kerr’s Concentrates specializes in maintaining the integrity and richness of raw fruits and vegetables while providing multiple functionalities. These ingredients can be used to enhance the nutrition, texture, flavor and appearance of foods and beverages while making it easier to simplify the ingredient list.
“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,” Gordon adds.
The trend toward simple ingredients is rapidly growing and the Kerr acquisition is another step in expanding Ingredion’s clean-label ingredient portfolio. “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,” says Gordon.
Based in Salem, Oregon, Kerr operates two production facilities with state-of-the-art capabilities to ensure consistent quality, efficiency, and safety through process design, automation, and innovation.