Ingredion Expands Health Portfolio with Acquisition of Immune-Boosting Benicaros Prebiotic Fiber
INGR is trading near its 52-week low of $98.29 (2.4% above the low).
Summary
Ingredion has acquired Benicaros(R), a prebiotic fiber designed to support immune health at extremely low daily dosages. This move expands Ingredion's product portfolio into the growing health and wellness segment. The acquisition follows a period of active strategic initiatives for the company, including a recent joint venture with Sanstar Limited and a takeover offer for Tate & Lyle, despite reporting weaker Q1 earnings earlier this month.
At the time of this announcement, INGR was trading at $100.62 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $6.4B. The 52-week trading range was $98.29 to $140.47. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.