Ingredion (INGR) investor relations material

Strategic transformation and portfolio evolution

• Announced $5 billion acquisition of Tate & Lyle to expand Texture & Healthful Solutions, targeting over 50% of revenue from this segment post-acquisition.

• Divested non-core businesses in South Korea and Pakistan, reallocating capital to higher-value specialties and growth markets like India.

• Nine consecutive quarters of net sales volume growth in Texture & Healthful Solutions, with a focus on solution selling and innovation.

• Projected combined revenue of $10 billion and EBITDA of $1.8 billion after the Tate & Lyle deal closes.

• Acquisition expected to deliver $130 million in cost synergies and over 15% EPS accretion in the first full year post-close.

Market trends, customer focus, and innovation

• Strong emphasis on consumer-preferred innovation, including clean label, sugar reduction, protein fortification, and textural differentiation.

• Solution selling model leverages consumer insights and co-creation with both large CPGs and insurgent brands, driving growth in high-margin segments.

• Global footprint enables transfer of successful product ideas and expertise across regions, supporting multinational customers.

• Texture is positioned as a key driver of product innovation, with multi-sensory experiences gaining traction in the food industry.

• Pharma, home, and personal care segments are growing rapidly, with combined revenues exceeding $300 million and high profit margins.

Financial performance and capital allocation

• Generated over $1 billion in annual cash flow for three years; projected $700–$800 million this year.

• Maintains disciplined capital allocation: investing for growth, cost savings, dividend preservation, and opportunistic buybacks.

• Regulatory and antitrust review for Tate & Lyle acquisition ongoing, with completion expected in the second half of next year.

• Targeting leverage below 2.5x within 18 months post-acquisition, supported by strong balance sheet.

• 15%+ EPS accretion expected in the first full calendar year after closing the Tate & Lyle deal.