Ingredion To Acquire Thai Rice Starch and Flour Business

Friday, August 26th, 2016 | 1292 Views

Ingredients solution provider Ingredion has agreed to acquire Sun Flour Industry Company Limited, a rice starch and flour business based in Banglen, Thailand.

“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,” said Jorgen Kokke, Ingredion senior vice president and president, Asia Pacific and EMEA.

“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,” Kokke added.

Part of the company’s global strategy to increase its higher-value specialty ingredients business, the company will have a total of four manufacturing facilities and 870 employees in Thailand once the acquisition is complete. This includes 120 employees joining the company from Sun Flour.

Sutipong Sitapradit, founder and president of Sun Flour Industries, said, “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.”

The acquisition is subject to approval by Thai government authorities as well as to other customary closing conditions.