Ingredion Incorporated is an American multinational ingredient provider based in Westchester, Illinois producing mainly starch, modified starches and starch sugars as glucose syrup and high fructose syrup. The company turns corn, tapioca, potatoes, and other vegetables and fruits into ingredients for the food, beverage, brewing, and pharmaceutical industries and numerous industrial sectors. It has more than 11,000 employees around the world in 44 locations, and customers in more than 60 markets in over 40 countries.
History
The company, which began as Corn Products Refining Co. and later as "CPC," was founded by the merger of leading US corn refiners in 1906. The company was incorporated in New Jersey. It supplied the raw materials for Argo cornstarch and Mazola corn oil. In 1981, CPC formed a partnership with Texaco to produce bioethanol at a plant in Pekin, Illinois. In 1995, the plant was sold to Williams Companies and, in 2003, continued as Aventine Renewable Energy. The company has a facility in nearby Mapleton, Illinois, along U.S. Route 24, which is part of an industrial area, a major area employer. CPC acquired starch factories in Europe from 1919 until 1987 when they were sold for 600 million $ to the Italian French sugar manufacture Eridania Béghin-Say owned by Ferruzzi and renamed Cerestar. Cerestar is sold in 2002 to Cargill for 1,14 billion $ having a turnover of 1,56 billion $ in 2000. The Bestfoods division of the company known for brands Maizena, Knorr, Hellmann's / Best Foods mayonnaise, and Skippy Peanut Butter and existed as a division from 1958 until 1997 when the company split into 2 companies: Bestfoods, a packaged-foods company, and Corn Products International, a starch and sweeteners company. Bestfoods was acquired for 24,3 billion $ in 2000 by Unilever. In October 2010, CPI acquired National Starch of Dutch paints firm AkzoNobel for $1.3 billion in cash. It also took on pension and employee benefit liabilities. National Starch hadin 2009 an turn-over of 1,2 billion $ with 2250 employees operating 11 plants in 8 countries. AkzoNobel acquired National starch after the take-over of chemical company ICI in 2008. From 1978 till 1997 National stach was part of specialty chemical businesses of Unilever. As of 2012, Ingredion has moved up to become a Fortune 500 company. In 2015 Ingredion acquired for 340 million $ Penford Corp and then Kerr Concentrates for 100 million $. Penford produced mainly potato starch derivatives had a turn-over of 467 million $ with 445 employees in 2014 in six plants. Kerr Concentrates makes fruit and vegetables concentrates and purees and had a turnover of 75 million $ and 82 employees. The following year they acquired Shandong Huanong Specialty Corn Development Co, a corn starchmanufacturing plant in China. In 2017 Ingredion then acquired TIC Gums as well as Sun Flour Industry Co. In 2019 Western Polymer was acquired, a US side stream potato starch manufacturer mainly cationic starch for the paper industrie. Western Polymer employed about 70 people at 3 sites. The combined company employs approximately 11,000 people in North America, South America, Europe, the Middle East, Africa, and Asia-Pacific. It operates 44 manufacturing facilities in 14 countries and sales offices in 29 countries. Ingredion Idea Labs Research and ingredient development centers are located in key global markets. In 2012, the company was renamed Ingredion. In 2016 Ingredion was named to Fortune's list of the world's most admired companies. From 2009 to 2017 the president and CEO of the company was Ilene S. Gordon. Upon her retirement, James Zallie was named to the position of president and CEO. In 2018 Ingredion began a joint venture with Verdient Foods to increase its investment in plant-based proteins, and also began manufacturing and producing Astraea Allulose. In 2019, Ingredion led the series B venture capital raising for Clara Foods. That year Ingredion also acquired Western Polymer.
