Ingredion to acquire Sun Flour Industry’s rice starch and flour business

Ingredient solutions provider Ingredion has entered an agreement to acquire rice starch and flour business of Sun Flour Industry, which is based in Banglen, Thailand.

Financial details of the transaction have not been disclosed.

The deal is subject to approval by Thailand's regulatory authorities and other customary closing conditions.

Ingredion senior vice-president and president for Asia Pacific and EMEA Jorgen Kokke said: “Rice is an on-trend ingredient. It is non-GMO, hypoallergenic and gluten-free. Plus, its superior functionality makes it ideal for a variety of uses, including baby foods, dairy products, snacks and gluten-free bakery.

“This acquisition enhances our global supply chain and leverages other capital investments we've made in Thailand to grow our specialty ingredients and service customers around the world.”

This acquisition is part of Ingredion's strategy to boost its specialty ingredients business.

Sun Flour Industries founder and president Sutipong Sitapradit said: “Sun Flour Industries has been an integral part of Thailand's agricultural history, and is renowned for its quality.

“Ingredion's global presence is a growth opportunity for the rice business. It provides career opportunities for the employees and helps position Thailand as a production and export base for value-added, rice-based food ingredients.”

Upon completion of the acquisition, Ingredion will have four manufacturing facilities and 870 employees in Thailand, including 120 workers joining from Sun Flour.