Ingredion Summary 2016

Investment and Acquire in 2016

SINGAPORE – Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, announced today that it has successfully completed the acquisition of Shandong Huanong Specialty Corn Development Co., Ltd. in China.

“This acquisition will vertically integrate our manufacturing base for specialty ingredients. In addition to reducing costs, it gives us more control of the supply chain, with added food safety and sustainability benefits. The facility is strategically located in an ideal growing area for the specialty grains used to make our ingredients. And, it provides a base for expansion to accommodate future growth,” explained Jorgen Kokke, Ingredion President of Asia Pacific and EMEA.

The acquisition of Shandong Huanong, located in Shandong Province, adds a second manufacturing facility to Ingredion’s operations in China. It will produce starch raw material for the Company’s plant in Shanghai, which makes value-added ingredients for the food industry.

Ingredion acquired Shandong Huanong from Pingyuan County Juyuan State-Owned Asset Management Co., Ltd. The terms of the agreement will not be disclosed.

Ingredion to Acquire Rice Starch & Flour Business in Thailand

WESTCHESTER, Ill., Aug. 17, 2016 – Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, announced today that it has entered into a definitive agreement to acquire the rice starch and rice flour business from Sun Flour Industry Co, Ltd. based in Banglen, Thailand.

The acquisition supports Ingredion’s global strategy to increase its higher-value specialty ingredients business and has been approved by the Company’s board of directors. It is subject to approval by Thai government authorities as well as to other customary closing conditions. Details of the transaction have not been disclosed.

“Rice is an on-trend ingredient. It is non-GMO, hypoallergenic and gluten free. Plus, its superior functionality makes it ideal for a variety of uses, including baby foods, dairy products, snacks and gluten-free bakery,” said Jorgen Kokke, Ingredion senior vice president and president, Asia Pacific and EMEA. “This acquisition enhances our global supply chain and leverages other capital investments we’ve made in Thailand to grow our specialty ingredients and service customers around the world,” Kokke added.

Sutipong Sitapradit, founder and president of Sun Flour Industries, said, “Sun Flour Industries has been an integral part of Thailand’s agricultural history, and is renowned for its quality. Ingredion’s global presence is a growth opportunity for the rice business. It provides career opportunities for the employees and helps position Thailand as a production and export base for value-added, rice-based food ingredients.”

Once the acquisition is complete, Ingredion will have four manufacturing facilities and 870 employees in Thailand, including the 120 employees joining the Company from Sun Flour.

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