Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, announced last week that it has acquired the operations of Western Polymer, a privately held, company in the United States, headquartered in Moses Lake, Washington.
Western Polymer produces native and modified potato starches for food and industrial applications and also sells modified tapioca starch for industrial applications.
The acquisition will expand the Ingredion's potato starch manufacturing capacity, enhance processing capabilities, and broaden its higher-value specialty ingredients business and customer base.
Terms of the acquisition were not disclosed.
Jim Zallie, President and CEO of Ingredion:
“This next phase of growth is consistent with other actions we've taken to strengthen our specialties business and deliver long-term value for our shareholders.”
“This acquisition expands our higher-value specialty ingredients business, which is central to Ingredion's growth strategy.”
“We have tremendous respect for the culture and business that Western Polymer has built and we look forward to the future opportunities that we will create together.”
Lynn Townsend-White, President and CEO of Western Polymer:
“We're excited to leverage the strengths of Western Polymer and Ingredion to continue developing high-quality ingredients that align with consumer trends and customers' needs.”
“By coming together now, this enables even greater reach for our ingredients and positions the business for continued growth.”