NEWS Page 1/2 Grupo Arcor and Ingredion Announce Joint Venture
NEWS >> https://www.yumda.com/en/news/1169875/ Grupo Arcor and Ingredion Announce Joint Venture in Ar- gentina, Chile and Uruguay Joint venture leverages manufacturing expertise, global go-to-market capabilities, and food and beverage industry experience to create and scale innovative ingredient solutions 15.02.2021 - Grupo Arcor, the leading food compa- • Arcor will transfer its ingredient operations to ny of Argentina, and Ingredion Incorporated (NYSE: the joint venture, which includes one manufac- INGR), a leading global ingredient solutions provider turing facility in Lules (province of Tucumán) to the food and beverage industry, have signed an and two manufacturing facilities in the Industri- agreement to create a joint venture that will lever- al Complex Arroyito (province of Córdoba). age the two companies’ manufacturing expertise, • Ingredion will transfer its Argentina, Chile and complementary geographic footprints and commer- Uruguay operations to the joint venture, which cial capabilities to broaden food and beverage ingre- includes two manufacturing facilities in the dis- dient offerings to customers in Argentina, Chile and tricts of Chacabuco and Baradero (province of Uruguay. Arcor and Ingredion will hold a 51% and Buenos Aires). 49% stake, respectively. The joint venture will have a combined turnover of more than US$ 300 million. The manufacturing facilities produce value-added ingredients, such as glucose syrups, maltose, fruc- tose, starch and maltodextrins that are essential to the food, beverage and pharmaceutical industries. The joint venture will be managed by a jointly ap- pointed team of executives who will be responsible for integrating the combined operations to market, sell and manufacture ingredients within Argentina, Chile and Uruguay and to further optimize the man- ufacturing network and support functions to create incremental shareholder value.
[Show full text]