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.

Ingredion was founded in 1906 as Corn Products Refining Company through the merger of several leading US corn refiners. The company began producing Argo laundry cornstarch in 1908 and launched Mazola corn oil in 1911. In the 1920s, the company developed crystalline dextrose, sold as Cerelose, and began selling Karo syrup. These products established the foundation of what would become a global ingredient business.

Throughout the mid-20th century, the company expanded globally, establishing operations in South America, Asia, Africa, and Europe. In 1958, the company merged with The Best Foods, Inc., creating CPC International Inc. in 1969. Under CPC, the company became known for consumer brands including Maizena, Knorr, Hellmann's and Best Foods mayonnaise, and Skippy Peanut Butter. This period diversified the company into packaged consumer foods, but the ingredient business remained the core.

In 1997, CPC International spun off its packaged food business as Bestfoods (which was later acquired by Unilever in 2000 for $20.3 billion) and renamed itself Corn Products International, refocusing on ingredient solutions. This was a pivotal strategic decision that separated the ingredient business from consumer brands.

In 2010, the company acquired National Starch from AkzoNobel for $1.3 billion, significantly expanding its specialty ingredients portfolio. National Starch brought expertise in specialty starches, adhesives, and electronic materials, giving Corn Products International a stronger position in higher-margin specialty ingredients.

In 2012, the company was added to the Fortune 500 list and renamed Ingredion, reflecting its evolution from a corn refiner to a diversified ingredient solutions provider. The name change was part of a broader rebranding effort to position the company as a modern ingredient innovator rather than a commodity corn processor.

Since the rebranding, Ingredion has pursued strategic acquisitions to expand its specialty ingredients and sweetener portfolios. Penford was acquired in 2015 for approximately $340 million, adding potato starch derivatives. Kerr Concentrates was acquired in 2015 for an undisclosed sum, adding natural fruit and vegetable concentrates. TIC Gums was acquired in 2016 for approximately $80 million, adding specialty stabilizers and texturizers. PureCircle was acquired in 2020 for approximately $200 million, adding stevia-based sweeteners. KaTech was acquired in 2021, adding texture and stabilization solutions for food and beverages.

In 2024, Ingredion undertook a resegmentation of its business, moving from a geographic structure to a product-focused structure. The new segments are Texture & Healthful Solutions, Food & Industrial Ingredients - LATAM, Food & Industrial Ingredients - U.S./Canada, and All Other. This resegmentation was designed to give investors better visibility into the performance of the company's higher-value specialty ingredients business.

For FY2025, the Texture & Healthful Solutions segment posted its seventh straight quarter of sales volume growth in Q4 2025, with operating income for the year increasing 16% to $405 million. The company also initiated a Cost2Compete restructuring program, which resulted in $106 million in restructuring and impairment costs during FY2025.

Ingredion has established sustainability programs focused on sustainable sourcing, environmental responsibility, and ethical business practices. The company is a signatory to the Science Based Targets initiative (SBTi) and has committed to reducing absolute Scope 1 and 2 greenhouse gas emissions.

Sustainable sourcing initiatives include programs to promote sustainable corn farming practices, water conservation in manufacturing, and soil health programs with agricultural partners. The company sources corn primarily from local farmers near its manufacturing facilities, reducing transportation emissions and supporting local agricultural economies.

Environmental programs target reducing carbon emissions, water usage, and waste generation across manufacturing operations. Ingredion has invested in renewable energy and energy-efficient manufacturing processes. The company reports environmental performance in its annual sustainability report.

On the social side, Ingredion supports agricultural communities through local hiring, food science education programs, and food security initiatives. The company maintains anti-corruption policies and supply chain ethics programs covering labor standards and fair business practices.

Ingredion is not a Certified B Corporation. The company's sustainability claims have not been subject to major independent assessments or controversies, though the broader corn refining industry faces scrutiny regarding water usage, agricultural chemical runoff, and the environmental impact of high-fructose corn syrup production.

Ingredion has received recognition for ingredient innovation, sustainability, and corporate performance from industry organizations.

• Fortune 500: Ingredion has been included in the Fortune 500 list since 2012, reflecting its position as one of the largest American companies by revenue.
• Forbes America's Best Mid-Size Employers: Ingredion has received recognition for workplace practices and employee satisfaction across its global operations.
• Food Technology Innovation Awards: Recognition for innovation in food ingredient development, texture solutions, and clean-label ingredients.
• Sustainability Recognition: Awards for sustainable agriculture programs, water conservation, and environmental performance from food industry organizations.
• Corporate Governance Recognition: Ingredion has been recognized for corporate governance standards and board oversight practices.

Ingredion operates in the highly regulated food and ingredients industry and faces scrutiny regarding food safety, environmental impact, agricultural practices, and regulatory compliance.

As a food ingredient manufacturer, Ingredion is subject to FDA compliance requirements for food ingredients, manufacturing practices, and labeling. The company must also comply with international food regulations across its global markets, including EU food safety standards and regulations in Asia and Latin America.

The corn refining industry has faced public health scrutiny related to high-fructose corn syrup (HFCS), which has been linked in some studies to obesity and metabolic health issues. While the FDA considers HFCS safe for consumption, consumer preferences have shifted away from HFCS toward natural sweeteners, which has driven Ingredion's investment in PureCircle and stevia-based alternatives.

Ingredion's South Korea operations have experienced volume declines, with the segment reporting lower sales in FY2025. The company has restructured these operations as part of its Cost2Compete program, resulting in restructuring and impairment charges.

Environmental regulatory scrutiny includes compliance with water usage regulations, air emissions standards, and waste management requirements across manufacturing facilities in multiple jurisdictions. The company's agricultural sourcing is subject to regulations regarding agricultural chemicals, GMO labeling, and organic certification standards.