Ingredion invests in NorQuin, extending plant-based protein portfolio to globally distribute quinoa flours with exclusive commercial agreement
Ingredion Incorporated (NYSE: INGR), a global provider of ingredient solutions to the food manufacturing industry, announced that it has entered into an exclusive commercial agreement with Northern Quinoa Production Corporation ("NorQuin") to globally distribute and market NorQuin's quinoa flours, which will be grown and milled in the Canadian plains. In addition to the commercial exclusivity, the Company has concluded a financial agreement, which includes the option of a future equity investment in NorQuin.
“We are excited to enter into an agreement with NorQuin to further expand our specialties portfolio with quinoa flours and capitalize on the plant-based protein trend shaping the global food industry,” said Jim Zallie, Ingredion’s president and CEO. “Consumers today are looking for foods and beverages made with real ingredients that are familiar, trusted, sustainably sourced and authentic. This latest investment complements our pulse-based protein portfolio, unlocks future growth opportunities and enhances our ability to co-create with our customers to deliver consumer-preferred foods and beverages that are nutritious and taste great.”
“Consumer demand for plant-based protein is rapidly growing around the world, and we want to offer a full range of solutions that best meet our customers' needs,” said Tony DeLio, senior vice president, corporate strategy and chief innovation officer. “Quinoa is a grain, which has nutritional value that is complementary to pulses, such as peas and lentils. NorQuin has invested more than two decades of research to develop proprietary and high-yielding quinoa. Working with NorQuin, we have the opportunity to further innovate and commercialize novel quinoa-based protein offerings for food manufacturers.”
“We aim to make quinoa more accessible so we can improve human health and the resource efficiency of the foods that we eat. Our new partnership with Ingredion will help us do that at scale,” said Aaron Jackson, CEO of NorQuin. “Ingredion’s global reach, deep-rooted distribution channels and R&D expertise will help accelerate our growth and deliver on our mission.”