Joint venture leverages manufacturing expertise, global go-to-market capabilities, and food and beverage industry experience to create and scale ingredient solutions.
Argentinian food company Grupo Arcor and Ingredion have sealed an agreement to create a joint venture that will leverage the two companies’ manufacturing expertise, complementary geographic footprints and commercial capabilities to broaden food and beverage ingredient offerings to customers in Argentina, Chile and Uruguay.
It is reported that the joint venture will have a combined turnover of more than US$300 million. Under the agreement, Arcor will transfer its ingredient operations to the joint venture, including three manufacturing facilities. In turn, Ingredion will transfer its Argentina, Chile and Uruguay operations to the joint venture, which includes two manufacturing facilities in the districts of Chacabuco and Baradero in the province of Buenos Aires.
The manufacturing facilities produce ingredients, such as glucose syrups, maltose, fructose, starch and maltodextrins that are essential to the food, beverage and pharmaceutical industries.
The joint venture will be managed by a jointly appointed team of executives who will be responsible for integrating the combined operations to market, sell and manufacture ingredients within the three countries, and to further optimise the manufacturing network and support functions to create incremental shareholder value.