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  4. PureCircle
PureCircle logo
Food & Beverage

Who Owns PureCircle?

PureCircle is owned by Ingredion Incorporated (NYSE: INGR), a global ingredient solutions company headquartered in Westchester, Illinois. Ingredion acquired PureCircle in 2020 for approximately $324 million, integrating it as a wholly-owned subsidiary focused on stevia-based sweeteners. PureCircle operates within Ingredion's Sugar Reduction business unit, supplying food and beverage manufacturers with plant-based sweetening solutions.

Parent Company

Ingredion Incorporated

Acquired

2020

Status

Publicly Traded

Headquarters

Chicago, Illinois, USA

PureCircle Timeline

1906
Ingredion Incorporated

Parent company established in Westchester, Illinois, USA

Company Founded
2002

PureCircle

Founded by Magomet Malsagov, Peter Milsted

Founded
2020
Acquired by Ingredion Incorporated

Ingredion Incorporated acquired PureCircle

Acquired
premiumpremiumGlobalOfficial Website

Who Owns PureCircle?

  • Parent Company: Ingredion Incorporated
  • Ownership Type: Wholly owned
  • Acquisition Year: 2020
  • Company Type: Publicly Traded
  • Stock Ticker: NYSE: INGR
BrandParent CompanyOwnership Type
PureCircleIngredion IncorporatedWholly owned

Where to Buy

Disclosure: We may earn commission from purchases
AmazonPureCircle on Amazon

History of PureCircle

  • Founded: 2002
  • Founders: Magomet Malsagov, Peter Milsted
  • Acquired by Ingredion Incorporated: 2020

PureCircle was founded in 2002 by Magomet Malsagov and Peter Milsted. The company was established to commercialize stevia, a plant native to Paraguay whose leaves have been used as a sweetener for centuries. Stevia extracts are approximately 200 to 300 times sweeter than sugar with zero calories, making it attractive to food and beverage manufacturers seeking sugar reduction solutions.

In its early years, PureCircle focused on building a vertically integrated supply chain. The company established stevia leaf cultivation operations in Paraguay, where the plant originates, and in China, where large-scale agricultural production was already developing. PureCircle also built extraction and purification facilities to process raw stevia leaves into high-purity steviol glycoside extracts.

PureCircle completed its initial public offering on the London Stock Exchange's Alternative Investment Market (AIM) in 2007. The IPO raised capital for expansion, allowing the company to scale its manufacturing operations and invest in research and development. The company developed proprietary stevia extraction technologies that produced higher-purity extracts with improved taste profiles compared to earlier stevia ingredients.

Throughout the 2010s, PureCircle expanded its customer base among major food and beverage manufacturers. The company signed supply agreements with multinational corporations seeking clean-label, natural sweetening solutions. PureCircle's stevia ingredients were used in beverages, dairy products, baked goods, and confectionery. The company also expanded its cultivation operations to Kenya, adding a third sourcing region alongside Paraguay and China.

In 2018, PureCircle faced a temporary setback when U.S. Customs and Border Protection (CBP) issued a Withhold Release Order on stevia imports from PureCircle's China operations, citing allegations of forced labor. PureCircle disputed the allegations and commissioned independent audits of its supply chain. CBP subsequently modified the order in 2019 after reviewing the audit results, allowing imports to resume. The company maintained that its supply chain complied with international labor standards.

Ingredion initially acquired a minority stake in PureCircle in 2018, purchasing approximately 23% of the company. In July 2020, Ingredion completed the acquisition of the remaining shares, taking full ownership at 468 pence per share. The total transaction value was approximately $324 million. PureCircle was delisted from the AIM following the buyout.

Following the acquisition, PureCircle continued to operate as a distinct brand within Ingredion's portfolio. The integration gave PureCircle access to Ingredion's global distribution network and customer relationships, while Ingredion gained a leading position in the stevia market. In April 2025, PureCircle by Ingredion achieved the Farm Sustainability Assessment (FSA) Silver Performance Level for 100% of its contracted stevia supply chain, a first for the stevia industry.

About Ingredion Incorporated

What does Ingredion own?
Ingredion owns six acquired brands and subsidiaries: PureCircle (stevia sweeteners), TIC Gums (stabilizers and texturizers), Penford (potato starch derivatives), Kerr Concentrates (fruit and vegetable concentrates), KaTech (texture and stabilization solutions), and Verdient Foods (plant-based proteins). The company also produces commodity starches and sweeteners under the Ingredion brand name.

Is Ingredion publicly traded?
Yes, Ingredion is publicly traded on the New York Stock Exchange under the ticker symbol INGR. The company has been listed since its IPO and has a market capitalization of approximately $8.7 billion based on mid-2025 share prices. Shares are available through major brokerage accounts.

Who founded Ingredion?
Ingredion was founded in 1906 as Corn Products Refining Company through the merger of several leading US corn refiners. The company was renamed Ingredion in 2012 to reflect its evolution from a commodity corn refiner to a diversified ingredient solutions provider.

Where is Ingredion headquartered?
Ingredion is headquartered in Westchester, Illinois, USA, a suburb of Chicago. The company operates manufacturing facilities and innovation centers across the United States, Canada, Mexico, Brazil, Thailand, South Korea, and China.

How many brands does Ingredion own?
Ingredion owns six acquired brands: PureCircle, TIC Gums, Penford, Kerr Concentrates, KaTech, and Verdient Foods. The company also markets its commodity ingredients under the Ingredion master brand.

What is Ingredion's revenue?
Ingredion reported net sales of $7.2 billion for FY2025, down 3% from $7.4 billion in FY2024. Despite the sales decline, adjusted operating income reached a record $1.03 billion and adjusted diluted EPS was $11.13, up 4.5%. The company guides FY2026 EPS to be in the range of $11.00 to $11.80.

What does Ingredion produce?
Ingredion produces starches, sweeteners, and specialty ingredients from corn and other agricultural raw materials. Its products include high-fructose corn syrup, dextrose, corn starch, specialty texturizers, stevia-based sweeteners, stabilizers, gums, fruit and vegetable concentrates, and plant-based proteins. These ingredients are used in food, beverages, pharmaceuticals, brewing, and industrial applications.

  • Founded: 1906
  • Headquarters: Westchester, Illinois, USA
  • Company Type: Publicly Traded
  • Stock: NYSE: INGR
  • Revenue: $7.2 billion (FY2025)
  • Employees: Approximately 11,000

Visit Ingredion Incorporated website

View full company profile for Ingredion Incorporated

Where Is PureCircle Made / Based?

  • Headquarters: Chicago, Illinois, USA
  • Manufacturing / Operations: United States, China, Paraguay, Kenya

PureCircle Categories & Tags

SteviaSweetenersNatural IngredientsClean LabelSugar Reduction

PureCircle Sustainability & Ethics

PureCircle operates under Ingredion's sustainability framework. In April 2025, PureCircle by Ingredion achieved the Farm Sustainability Assessment (FSA) Silver Performance Level for 100% of its contracted stevia supply chain. The FSA is a tool developed by the Sustainable Agriculture Initiative (SAI) Platform to assess and improve sustainable farming practices. PureCircle is the first company to achieve FSA Silver certification for its entire stevia supply.

Ingredion has committed to having 99% of all crops sustainably sourced by 2025, with at least one-third of global sourcing under regenerative agriculture practices by 2030. PureCircle's stevia is grown using proprietary varietals that are traceable back to farming communities. The company's Sugar Reduction Life Cycle Assessment found that stevia has a lower environmental footprint than traditional sweeteners across multiple metrics, including water usage and carbon emissions.

PureCircle maintains traceability programs that allow customers to track ingredients back to specific farming communities. The company states that it ensures fair labor practices and supports local economic development in its sourcing regions. However, these claims are based on company reporting and have not been independently verified through third-party certifications like Fairtrade.

The 2018 U.S. Customs and Border Protection Withhold Release Order on PureCircle's China-origin stevia, citing forced labor allegations, was a significant sustainability and ethics concern. PureCircle commissioned independent audits and CBP modified the order in 2019. The company maintains that its supply chain complies with international labor standards, but the incident highlighted the challenges of monitoring agricultural supply chains across multiple countries.

Awards & Recognition

PureCircle by Ingredion became the first company to achieve the Farm Sustainability Assessment (FSA) Silver Performance Level for 100% of its contracted stevia supply chain in April 2025. The certification was awarded by the Sustainable Agriculture Initiative (SAI) Platform, a global initiative involving major food and beverage companies working to advance sustainable agriculture.

PureCircle's Clean Taste Solubility Solution and other proprietary stevia technologies have received industry recognition for addressing formulation challenges in sugar reduction applications. The company's innovations in stevia extraction and purification have been cited in food industry publications including Food Navigator and ingredient industry trade press.

Ingredion's sustainability programs, which include PureCircle's stevia initiatives, have been recognized for helping food and beverage manufacturers advance their ESG goals. The company has been featured in industry reports on sugar reduction and clean-label ingredient trends.

PureCircle Recalls & Controversies

PureCircle has not experienced any major product recalls related to safety issues or contamination concerns. The company's stevia ingredients have received regulatory approval in major markets, including GRAS (Generally Recognized as Safe) status in the United States and approval from the European Food Safety Authority (EFSA), Japan's Ministry of Health, Labour and Welfare, and other regulatory bodies.

In 2018, U.S. Customs and Border Protection issued a Withhold Release Order on stevia imports from PureCircle's China operations, citing allegations of forced labor. PureCircle disputed the allegations and commissioned independent third-party audits of its supply chain. CBP modified the order in 2019 after reviewing the audit results, allowing imports to resume. The company stated that the audits confirmed compliance with international labor standards.

The broader stevia industry has faced questions about taste profiles, with some consumers reporting bitterness or aftertaste from stevia-sweetened products. PureCircle has addressed these challenges through proprietary extraction technologies and stevia varietal development aimed at improving taste. The company has not been subject to regulatory enforcement actions or penalties related to its products.

PureCircle's 2020 acquisition by Ingredion proceeded without major regulatory obstacles. The integration has been cited in industry analysis as a successful example of strategic consolidation in the specialty ingredients sector.

Brands Owned by Ingredion Incorporated

KaTechFood Beverage

KaTech

Owned by Ingredion Incorporated

Specialty texture and stabilization ingredient company for food and beverage manufacturers, owned by Ingredion.

food-ingredientstexture-solutionsstabilization
Kerr ConcentratesFood Beverage

Kerr Concentrates

Owned by Ingredion Incorporated

Fruit and vegetable concentrates, purees, and essences producer for food and beverage manufacturers, owned by Ingredion.

fruit-concentratesvegetable-pureesclean-label
PenfordFood Beverage

Penford

Owned by Ingredion Incorporated

Specialty starch producer providing potato starch derivatives and functional ingredients for food and industrial applications, owned by Ingredion Incorporated.

potato-starchspecialty-starchfood-ingredients
TIC GumsFood Beverage

TIC Gums

Owned by Ingredion Incorporated

Specialty hydrocolloid gum systems and stabilizers for food and beverage manufacturers, owned by Ingredion Incorporated.

gumsstabilizerstexturizers
Verdient FoodsFood Beverage

Verdient Foods

Owned by Ingredion Incorporated

Plant-based protein ingredient producer based in Saskatchewan, Canada, acquired by Ingredion Incorporated in 2020. Specialized in pea protein concentrates and pulse flours for food and beverage manufacturers.

plant-based-proteinspulse-flourspea-protein
View all brands owned by Ingredion Incorporated

PureCircle Ownership: Pros & Cons

Advantages

  • +Access to Ingredion's global distribution network and customer relationships across 120+ countries
  • +Vertically integrated stevia supply chain from leaf cultivation through finished ingredients
  • +Proprietary extraction and purification technologies that produce higher-purity steviol glycosides
  • +Strong position in the growing sugar reduction market, projected at 8 to 10% annual growth
  • +FSA Silver certification for 100% of contracted stevia supply, a first in the industry

Considerations

  • -Competition from alternative natural sweeteners including monk fruit and allulose
  • -Dependence on agricultural conditions in Paraguay, China, and Kenya affecting stevia leaf supply
  • -Historical forced labor allegations in China, though resolved through independent audits
  • -Stevia taste profile challenges requiring ongoing R&D investment
  • -Revenue not separately disclosed, making PureCircle's individual financial performance difficult to assess

Frequently Asked Questions About PureCircle

Sources & Further Reading

  • PureCircle by Ingredion Official Website
  • Ingredion Incorporated Corporate Website
  • Ingredion Investor Relations: 2024 Annual Report
  • SEC EDGAR: Ingredion Incorporated (INGR) Filings
  • Sustainable Agriculture Initiative (SAI) Platform: FSA
  • Ingredion Sustainability and ESG Strategy
  • FDA GRAS Notices for Stevia
  • Food Navigator: Natural Sweeteners Industry News
  • Wikidata: Ingredion Incorporated

Competitors to PureCircle

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

BrandParent CompanyCountryFoundedMarket PositionPrimary MarketGender Target
Kerr ConcentratesKerr ConcentratesSister Brand
Ingredion
USA
1928
PremiumNorth americaAll Genders

Learn More About Competitors

Kerr ConcentratesFood Beverage

Kerr Concentrates

Owned by Ingredion Incorporated

Fruit and vegetable concentrates, purees, and essences producer for food and beverage manufacturers, owned by Ingredion.

fruit-concentratesvegetable-pureesclean-label

Competitive Analysis

Market Positioning: PureCircle competes with 1 brands in the same categories, ranging from mass market to luxury positioning.

Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.

Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.

Independent Alternatives to PureCircle

Looking for brands with different ownership structures? These similar brands are not owned by Ingredion Incorporated, giving you alternative choices that support different corporate structures.

Ferrero RocherFood Beverage

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Owned by Ferrero

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Privately Owned

Ferrero Rocher is privately owned, unlike PureCircle which is under a publicly traded parent company.

Fiji WaterFood Beverage

Fiji Water

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Premium bottled water brand sourced from an artesian aquifer in Fiji, owned by The Wonderful Company.

bottled-waterbeveragepremium-water
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Fiji Water is privately owned, unlike PureCircle which is under a publicly traded parent company.

Naked JuiceFood Beverage

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American premium juice and smoothie brand founded in Santa Monica in 1983. Owned by Tropicana Brands Group since 2021, previously by PepsiCo from 2007.

juicesmoothiecold-pressed
Privately Owned

Naked Juice is privately owned, unlike PureCircle which is under a publicly traded parent company.

Purely ElizabethFood Beverage

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Better-for-you breakfast brand founded in 2009 in Boulder, Colorado, known for granola, oatmeal, and cereal with premium ingredients. Acquired by Ferrero Group in August 2026 for approximately $850 million.

granolabreakfastbetter-for-you
Privately Owned

Purely Elizabeth is privately owned, unlike PureCircle which is under a publicly traded parent company.

StonyfieldFood Beverage

Stonyfield

Owned by Lactalis Group

American organic yogurt brand founded in New Hampshire in 1983, owned by Lactalis Group since 2017. The best-selling certified organic yogurt brand in the United States and a certified B Corporation.

yogurtorganicdairy
Privately Owned

Stonyfield is privately owned, unlike PureCircle which is under a publicly traded parent company.

TropicanaFood Beverage

Tropicana

Owned by Tropicana Brands Group

American fruit juice brand best known for its not-from-concentrate orange juice, owned by Tropicana Brands Group since 2021.

juiceorange-juicebeverage
Privately Owned

Tropicana is privately owned, unlike PureCircle which is under a publicly traded parent company.

Ingredion Incorporated Stock Information

Jobs at Ingredion Incorporated

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Last reviewed: August 1, 2026 · Reviewed by Who Brands Editorial Team