Dive Brief:
- Ingredion Incorporated is set to acquire Kerr Concentrates, Inc., maker of natural fruit and vegetable concentrates, purees, and essences, for about $100 million.
- "Kerr is a profitable company with an exciting portfolio of value-added ingredients that will broaden our current line of wholesome, clean-label solutions," said Ingredion CEO Ilene Gordon in a news release. "Kerr transforms fruits and vegetables into natural ingredients that resonate with consumers and are increasingly in demand by customers."
- Within 30 business days, the transaction should close if all customary conditions go smoothly.
Dive Insight:
This is seen as another step for Ingredion to focus on its 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," Gordon added.
Gordon recently told Fortune that the GMO debate has been fueled more by emotion than science, and that the company wants to honor consumers while considering there is little to no scientific proof at this time non-GMO foods have healthier properties. One of Ingredion's Indianapolis plants has non-GMO corn access.