December 02nd 2024
Agrana and Ingredion forge joint venture to enhance starch production in Romania.
Agrana Stärke, a subsidiary of Austria’s Agrana Beteiligungs-AG, has entered into a joint venture agreement with Ingredion, marking a new step in the evolution of starch production in Romania.
This collaboration, which is pending approval from relevant competition and regulatory authorities, will see Ingredion acquiring a 49% stake in AGFD Tandarei SRL from Agrana.
Stephan Büttner, CEO of Agrana Beteiligungs-AG, said: “We want to drive our growth in Europe by entering into a joint venture and we believe Ingredion is the ideal partner for this”.
He noted that the collaboration leverages the distinct expertise of both companies in starch production, aligning with Agrana’s broader strategy, dubbed ‘Next Level,’ which aims to enhance its commodity and specialty business segments.
The joint venture comes at a time when the food and beverage manufacturing landscape is increasingly focused on sustainable and innovative ingredient solutions. As consumer preferences shift towards health-conscious and environmentally friendly products, the demand for specialty starches – known for their functional properties in food applications – continues to grow.
Ingredion, a global supplier in ingredient solutions, develops various speciality starches that serve as functional ingredients across food and beverage sectors.
This strategic alliance will not only bolster Agrana’s production capabilities in Romania but also enhance Ingredion’s footprint in the European market. The Starch segment of Agrana, which accounted for approximately €1.1 billion of the group’s turnover in the last financial year, is poised for further growth through this venture.
With five production sites across Austria, Romania and Hungary, Agrana Stärke has established itself as a key player in customised starch applications, catering to diverse industrial needs.
The joint venture is expected to streamline operations and innovate product offerings, ultimately benefiting manufacturers seeking to enhance the quality and sustainability of their products.
More details regarding the collaboration will be disclosed following the necessary regulatory approvals.
Source: https://www.foodbev.com/news/agrana-and-ingredion-forge-joint-venture-to-enhance-starch-production-in-romania