Second quarter net sales increased 1%, driven primarily by higher net sales volume in the Texture & Healthful Solutions segment and favorable foreign exchange in Food & Industrial Ingredients in Latin America.
The ingredient solutions company will discuss its latest financial performance weeks after completing the sale of its majority stake in Pakistan’s Rafhan Maize.
The transaction involves Ingredion selling a 51% interest in Rafhan Maize for approximately US$165 million, while maintaining roughly a 20% ownership position to support future collaboration and regional growth.
Ingredion’s proposed acquisition of Tate & Lyle will create a US$9.9 billion ingredients powerhouse focused on sugar reduction, texture solutions, fortification, and food innovation.
The sweeping collaboration is specifically engineered to accelerate growth within India’s rapidly expanding specialty food and pharmaceutical ingredient markets.