Ingredion to acquire Kerr Concentrates
Ingredion Inc., Westchester, IL, announced today that it has agreed to acquire Kerr Concentrates Inc., a privately held producer of natural fruit and vegetable concentrates, purees and essences based in Salem, OR. The transaction of approximately $100 million is expected to close within 30 business days, pending customary closing conditions.
“Kerr is a profitable company with an exciting portfolio of value-added ingredients that will broaden our current line of wholesome, clean-label solutions,” says Ilene Gordon, Ingredion CEO. “Kerr transforms fruits and vegetables into natural ingredients that resonate with consumers and are increasingly in demand by customers.”
Kerr’s ingredients can be used to enhance the nutrition, texture, flavor and appearance of a number of foods and beverages across a wide variety of categories, from smoothies, juices, dairy products and baked goods to soups and dressings. A single ingredient can add color, flavor and texture to food or beverage products, according to Ingredion, making it possible to simplify the ingredient list.
“This is an opportunity to grow Kerr’s portfolio with our advanced technologies and product-development capabilities,” adds Gordon. “And we intend to expand the business with our broad customer network and global presence.”