Ingredion Incorporated (INGR)
77.31 0.00 (0.00%)
After hours: 4:17PM EST
Chart Events
Performance Outlook
| Previous Close | 78.34 |
| Open | 78.01 |
| Bid | 77.44 x 900 |
| Ask | 77.48 x 1300 |
| Day's Range | 77.11 - 78.84 |
| 52 Week Range | 59.11 - 99.51 |
| Volume | 458,106 |
| Avg. Volume | 645,652 |
| Market Cap | 5.179B |
| Beta (5Y Monthly) | 0.74 |
| PE Ratio (TTM) | 15.25 |
| EPS (TTM) | 5.07 |
| Earnings Date | Feb 09, 2021 - Feb 15, 2021 |
| Forward Dividend & Yield | 2.56 (3.27%) |
| Ex-Dividend Date | Sep 30, 2020 |
| 1y Target Est | 86.80 |
- GlobeNewswire
Ingredion to Present at BMO 2020 Growth & ESG Conference
WESTCHESTER, Ill., Dec. 01, 2020 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today announced that Jim Zallie, president and chief executive officer, will present virtually at the upcoming BMO 2020 Growth & ESG Investor Conference. The conference details include: * On Wednesday, December 9, 2020, Zallie will participate in a panel discussion titled “Food of the Future” at 11 a.m. ET. The presentation will be webcast live on the Investor Relations section of the company’s website under the section titled “News and Events.” Participants are encouraged to join the webcast approximately 10 minutes before the start of the presentation.ABOUT THE COMPANY Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2019 annual net sales of more than $6 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers located around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.CONTACT: Investors: Tiffany Willis, 708-551-2592 Media: Becca Hary, 708-551-2602
- GlobeNewswire
Partnership to improve the functionality of pulse-based ingredients
Companies come together to help commodities reach new marketsSASKATOON, Saskatchewan, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Today, Protein Industries Canada announced an investment into a project aimed at opening new markets for pulse-based proteins by increasing their functionality in high-value ingredients. Ingredion Inc., Ingredion Plant Based Protein Specialties (Canada) Inc., Verdient Foods Inc., T Base 4 Investments and O.M.D. Food Products are partnering to commercialize new technology that will improve the functionality of pulse-based ingredients. Initially focusing on yellow peas, the partners will use physical processing techniques to turn the commodities into ingredients that will be available to food processors and manufacturers in Canada and internationally.“This innovative project is a great example of how the Protein Supercluster is playing an important role in the modernization of Canada’s plant protein sector. Through this collaborative effort, these companies are demonstrating what it truly means to be global innovation leaders by creating better tasting ingredients for plant-protein alternatives, and new markets for Canadian pulse growers,” said the Honourable Navdeep Bains, Minister of Innovation, Science and Industry.“The partnership announced today will help the plant proteins sector remain on the cutting edge of agricultural innovation,” said the Honourable Marie-Claude Bibeau, Minister of Agriculture and Agri-Food. “This investment will both add value to Canadian pulse farmers’ crops and grow our exports.”The project is expected to lead to the expansion of applications that will broaden the markets for pulses by improving their functionality as ingredients in plant-based protein products. Following the processing of yellow peas, the partners expect to shift their work to commodities such as lentils, chickpeas, green peas and faba beans. As it progresses, the project is expected to create up to 30 new Canadian jobs.“The difference these partners are going to make in the lives of Canadians is incredible to think about,” Protein Industries Canada CEO Bill Greuel said. “From the farmers who’ll have new markets for their crops, to the processors who’ll have new ingredients to work with, to the families who’ll have new products on their plates, everyone along the value chain will have something to look forward to. It represents a true expansion and strengthening of the plant-protein ecosystem.”A total of $25.7 million has been committed to the project, with the partners investing $12.8 million and Protein Industries Canada committing an additional $12.8 million. The partners expect the pulse-based ingredients to be of interest to large-scale food processors and manufacturers throughout Canada and international markets, helping drive further investment into Canada’s economy and the plant-protein sector.“Ingredion is excited to advance our specialties strategy by providing high-quality ingredients that address consumers’ preferences for sustainable, plant-based alternatives,” said Beth Tormey, Ingredion’s vice president of plant-based proteins. “Protein Industries Canada’s contribution will accelerate our work by enabling the use of new technology and innovation to create a more inclusive and sustainable food system. By coming together with other consortium members, we will produce the next generation of ingredients that can be used by food manufacturers in Canada and on a global scale. Development of our first products are underway, and we expect that these efforts will benefit food manufacturers following continued innovation and investment.”“Ingredion looks forward to partnering with industry leaders from the consortium to produce high-value, sustainable ingredients and contribute to the global expansion of Canada’s role in plant-based proteins,” said Jorgen Kokke, Ingredion’s executive vice president and president, Americas. “This project complements our pulse-based protein portfolio, aligns with our growth strategy and accelerates our ability to deliver consumer-preferred foods and beverages to global markets.”“The Verdient Foods team is thrilled to be a part of a such a critical project to bring new plant-based ingredients to a global marketplace,” said former GM of Verdient Foods and Senior Advisor to IPBPS and Ingredion Incorporated Blair Knippel. “Protein Industries Canada’s contributions will lead directly to ongoing improvements to the manufacturing capabilities in Vanscoy. The project solidifies Verdient Foods’ original vision, which is to position as key contributor to the plant-based protein movement and leader in sustainable food ingredient production.”“We share a common vision with Protein Industries Canada, and with our valued partner, Ingredion, a leading ingredient solutions provider,” Verdient co-founder James Cameron said. “That shared vision is to create a broad range of sustainable plant proteins and plant-based products to meet the explosive growth in demand. Our goal is to add value within Canada, rather than just shipping megatonnage overseas at commodity prices. To add jobs and grow our GDP.”“OMD’s mission is to shine a light on the food industry and celebrate a new way of relating to food and eating,” said Suzy Amis Cameron, founder of OMD. “Plant-based foods and beverages not only increase our health, but that of the planet. Working with Ingredion, the PIC project provides OMD with an opportunity to bring new plant-based food products to broader consumer market one meal at a time.” With this being its 12th project announcement, Protein Industries Canada and industry together have invested approximately $272 million into plant-protein technology projects. Protein Industries Canada is currently accepting its third round of Expressions of Interest for its Technology and Capacity Building programs.For more information:Miranda Burski Protein Industries Canada Regina, SK 306-581-1340 miranda@proteinsupercluster.caAbout Ingredion Plant Based Protein Specialties (Canada), Inc. Ingredion Plant Based Protein Specialties (Canada), Inc., a member of the Ingredion group of companies, is located in Vanscoy, Sask., and manufactures pulse-based ingredients with improved functionality.About Ingredion Inc. Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2019 annual net sales of more than $6 billion, the company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs innovation centres around the world and more than 11,000 employees, the company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better.About Verdient Situated in the heart of Canada’s pulse-crop growing region, Verdient Foods Inc.’s Vanscoy, Sask., operation naturally processes pulses into ingredients for food and industrial manufacturers.About O.M.D. Food Products O.M.D. Food Products Corp. is the Canadian manufacturing arm for Suzy Amis Cameron’s global “One Meal a Day for the Planet” movement. OMD envisions the health, animal and environmental benefits of global citizens eating at least one plant-based meal a day.
- GlobeNewswire
Ingredion to Acquire 100% Ownership in Joint Venture Accelerating Growth in Plant-Based Proteins
* Acquisition further enables net sales growth from pulse-based protein flours for consumer food and animal nutrition applications * By end of 2020, Company expects total investment in plant-based proteins to increase to over $200 million from $185 millionWESTCHESTER, Ill., Nov. 01, 2020 (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today announced that it has signed an agreement with James Cameron and Suzy Amis Cameron to acquire the remaining portion of ownership in Verdient Foods Inc. that the Company did not already own. The acquisition is expected to close this month. The transaction was funded from the company's available liquidity. No other terms of the transaction were disclosed.“Acquiring 100% ownership in Verdient Foods enables Ingredion to accelerate net sales growth, further expand our manufacturing capability and co-create with our customers to serve the increasing consumer demand for plant-based foods,” said Jim Zallie, Ingredion’s president and chief executive officer. “Over the last two years, we have strategically invested over $200 million to build a leadership position in consumer-preferred plant-based proteins, which is central to Ingredion’s strategy and accelerating our Driving Growth Roadmap. We are well positioned to continue capitalizing on and benefiting from the megatrends driving the changes in the global food and beverage industry. We look forward to building on the foundation set by James and Suzy Amis Cameron, who have been pioneers in driving transformational change in the food industry and creating a shared sustainable future for all.”Jim Cameron stated: "Ingredion is truly committed to breakthrough, innovative and sustainable plant-based solutions, and to revolutionizing food systems for the health of the planet. Our collective efforts and shared vision are about igniting change and delivering benefits to consumers around the world.”As a result of the acquisition and once construction is complete on an adjacent facility, the Company will operate two facilities that can produce a wide range of high-quality, sustainable, specialty pulse-based concentrates and flours from peas, lentils and faba beans. Both facilities are located in Vanscoy, Saskatchewan, in the heart of Canada’s pulse-crop production area and serve as a prime location for the manufacturing and distribution of pulse-based ingredients to global markets. ADVANCEMENTS OF PLANT-BASED PROTEIN SPECIALTY GROWTH PLATFORM The acquisition of 100% of Verdient Foods Inc. is the latest in a series of actions and investments that the Company has taken to expand and advance its plant-based proteins specialty growth platform. It also recently announced two new senior executive appointments.Recent Senior Executive Appointments * On Oct. 1, 2020, Jeremy Xu, senior vice president and chief innovation officer, joined the Company from Royal DSM and is responsible for research and development and the technology strategy to advance the specialty growth platforms, as well as overseeing the Ingredion Idea Labs® innovation centers. * On Aug. 31, 2020, Beth A.C. Tormey, vice president of plant-based proteins, joined the Company from Lonza, where she last led the consumer health and nutrition business. At Ingredion, Tormey is responsible for driving the global execution and delivery of business volume, revenue and profitability targets for the plant-based proteins platform.Timeline of Plant-based Protein Investments 2020 * Acquisition of 100% ownership of Verdient Foods Inc. further accelerating growth in plant-based proteins * Investment in a Process Innovation Center in Bridgewater, NJ, enabling customers to test and develop formulations, ideas and solutions for plant-based meat alternatives * Exclusive commercial agreement with Northern Quinoa Production Corporation (NorQuin) to globally distribute and market quinoa flours 2019 * Additional investments related to Verdient Foods Inc. to expand portfolio of plant-based proteins * Investment in Clara Foods, a San Francisco-based biotech startup, to become exclusive, global go-to-market partner for certain developing animal-free proteins * Investment in a dedicated innovation lab in Englewood, CO, focused on plant-based meat alternatives where food scientists and product developers apply formulation expertise to help customers accelerate product launches and improve existing recipes 2018 * Establish joint venture agreement with Verdient Foods Inc. to produce pulse-based protein concentrates and flours from peas for consumer food and animal nutrition applications * Purchase facility in South Sioux City, NE, initiating significant capital investments to transform and accelerate its production of plant-based proteinsABOUT INGREDION Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2019 annual net sales of more than $6 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit ingredion.com for more information and the latest Company news.CONTACTS: Investors: Tiffany Willis, 708-551-2592 Media: Becca Hary, 708-551-2602
