TIC Gums to Be Purchased for $400 Million

WHITE MARSH, MD — Locally based TIC Gums is being bought by an out-of-state company that has been looking to help keep foods "clean" of additives, according to reports. Illinois-headquartered Ingredion is expected to close on the acquisition by the end of the year.

Ingredion manufactures sweeteners, starches and other ingredients for distribution around the world, usually going into products from yogurt to paper.

TIC Gums focuses on gum and celluloid-based products to improve the texture of foods.

"TIC Gums' and Ingredion's strengths complement each other perfectly," TIC Gums President Gregory Andon said. "By coming together, we will truly be able to focus on the correct technical solutions for our customers whether they be starch, gum or systems containing both."

The acquisition will enable TIC Gums to expand more rapidly than it could on its own, Andon added, since Ingredion has a global presence.

Ingredion, which has been working toward "clean" ingredients that do not include additives, also stands to gain from the agriculturally-based TIC Gums products.

"This acquisition propels us into a new era of on-trend texture development," Ingredion CEO Ilene Gordon said in a statement, "with even more solutions for organic and clean-label demands."

The $400 million transaction is expected to close by the end of 2016.

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Photo by Maryland Department of Commerce.