Ingredion signs joint venture with Grupo Arcor in South America

By Mary Ellen Shoup contact

- Last updated on GMT

 ©GettyImages / fizkes
©GettyImages / fizkes

Related tags: Ingredion, Grupo Arcor

Ingredion and Grupo Arcor -- a leading confectionery exporter in South America -- have signed a joint venture agreement to broaden food and beverage ingredient offerings in Argentina, Chile, and Uruguay.

"We are pleased to announce our joint venture with Grupo Arcor, a leader and pioneer in the food industry,”​ said Jorge Elías, president of Ingredion’s South America region.

“We share similar values and are passionate about creating a world-class experience and offering ingredient solutions that deliver value for our customers. We look forward to combining Ingredion’s successful go-to-market team with our respective operations to strengthen our future for years to come.”

Grupo Arcor, which has more than 40 manufacturing plants and an annual revenue of US$2.5bn, has entered strategic alliances with other major food industry players in the past including Coca-Cola, Danone, and Grupo Bimbo.

Under terms of the deal, Arcor and Ingredion will hold a 51% and 49% stake in the joint venture, respectively. The joint venture will have a combined turnover of more than $300m, according to the companies.

The joint venture will be managed by a jointly-appointed team of executives who will be responsible for integrating the combined operations to market, sell, and manufacture value-added ingredients (i.e. glucose syrups, maltose, fructose, starch and maltodextrins) within Argentina, Chile, and Uruguay.

Arcor will transfer its ingredient operations to the joint venture, which includes three manufacturing facilities in Argentina. Ingredion, in turn, will transfer its Argentina, Chile, and Uruguay operations to the joint venture, which includes two manufacturing facilities in the districts of Chacabuco and Baradero (province of Buenos Aires).

Related news

Related products

show more

Deliver natural and delicious vanilla solutions.

Deliver natural and delicious vanilla solutions.

ADM brings innovation to the table. | 22-Nov-2021 | Infographic

People want to feel good about what they eat. With ADM’s unique direct-from-farmer supply chain, you can deliver delicious products made with ethical...

What’s next in better-for-you snacking.

What’s next in better-for-you snacking.

ADM brings innovation to the table. | 22-Nov-2021 | Case Study

Today’s consumers want snacks with healthy ingredients and meaningful benefits. ADM is at the forefront of functional snacking innovation, with a clean-tasting,...

Achieving sweet success in sugar reduction.

Achieving sweet success in sugar reduction.

ADM brings innovation to the table. | 22-Nov-2021 | Insight Guide

Gaining an in-depth understanding of consumers’ values, culture and behaviors is vital in developing successful sugar reduction formulations. Download...

Related suppliers

Follow us

Products

View more

Webinars