Ingredia snaps up Kantner Ingredients assets
IDI Inc is a subsidiary of French firm Ingredia Group. It has previously had a partnership with Kantner, through which it exported from the US to key markets such as Dubai and the Middle East.
Guy Kientz, chief executive officer of IDI Inc said the acquisition of certain assets of Kantner Ingredients and Kantner Real Estate is a “significant step” in the strategy to accelerate growth in the US.
"As a result of the acquisition, we will have a greater presence in this huge market where we see significant opportunities for growth. This will also enable us to secure our export activities formerly realized in partnership with Kantner Ingredients."
At the same time, the parent company has been eyeing a broader international set up, and Alain Thibault, CEO of the Ingredia Group, said the news is a step towards further improving service to customers globally.
IDI lists its product portfolio as being made up of dairy powders (whole milk, milk permeat and whey permeate), functional systems (both 100 per cent dairy and including non-dairy agents like hydrocolloids and starches), and proteins (milk protein concentrates and isolates, soluble milk protein isolates, rennet casein, and whey protein concentrates).
Kantner, meanwhile, was founded in 1999 by Doug Kantner, and was originally known as Euro Proteins. It manufactures blends and distributes dairy proteins for the food industry.
The transaction is said to include a blending unit in Wapakoneta, Ohio, with a capacity of 35m pounds a year, and a portfolio of customers in the food and nutrition sector.
Going forward, the new venture is expected to generate a turnover of more than $50m.
The value of the acquisition has not been disclosed.
