
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
Acquired
2020
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| PureCircle | Ingredion Incorporated | Wholly owned |
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.
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.
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.
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 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.
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Ingredion | USA | 1928 | Premium | North america | All Genders |
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.
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