AGRANA and INGREDION plan joint venture in Romania

AGRANA and INGREDION plan joint venture in Romania

AGRANA Stärke GmbH, a subsidiary of AGRANA Beteiligungs-AG, has signed a joint venture agreement with starch producer INGREDION Germany GmbH for the joint further development of starch production in Romania. On the basis of the agreement, which is subject to the approval by the competent competition and regulatory authorities, INGREDION Germany GmbH will acquire 49% of the shares in S.C. AGFD Țăndărei s.r.l. from AGRANA Stärke GmbH.

“We want to drive our growth in Europe by entering into a joint venture and we believe INGREDION is the ideal partner for this. The collaboration combines our different expertises in starch production and fits perfectly with our Group strategy ' Next Level'. We’re implementing the strategy step by step, and strengthening our commodity and specialty business consistently, is a central aspect,” explains Stephan Büttner, CEO of AGRANA Beteiligungs-AG.

Further details on AGRANA's joint venture with INGREDION in Romania will be announced after the approval of the transaction by the competent competition and regulatory authorities.

About AGRANA

AGRANA converts agricultural raw materials into high-quality foods and numerous industrial intermediate products. Around 9,000 employees at 53 production sites worldwide generate annual Group revenue of around € 3.8 billion. Established in 1988, the company is the global market leader in fruit preparations and the world's leading producer of apple and berry juice concentrates. As well, its Starch segment is also a major manufacturer of custom products (made from potato, corn and wheat) and of bioethanol. AGRANA is the leading sugar producer in Central and Eastern Europe.

With its three Austrian plants in Aschach/Donau (Upper Austria), Gmünd (Lower Austria) and Pischelsdorf (Lower Austria) as well as a plant in Țăndărei (Romania) and Szabadegyhaza (Hungary), AGRANA Stärke GmbH operates a total of five production sites and and has established itself in customized starch applications. In the past financial year, the Starch division accounted for almost one third of the group´s turnover, with € 1.1 billion.

About INGREDION

INGREDION Germany GmbH is active in the development and production of various specialty starches that are used as functional ingredients in the production of a variety of food products. INGREDION Germany GmbH is part of the INGREDION group, a global provider of ingredient solutions. The INGREDION group of companies produces starches, sweeteners and other ingredients from renewable raw materials such as corn, tapioca and the stevia plant and supplies customers in the food and beverage, pet food, pharmaceutical and paper industries.

For queries, please contact:
Markus Simak, Public Relations
+43 1 21137 12084, markus.simak@agrana.com

Hannes Haider,  Investor Relations
+43 1 21137 12905, hannes.haider@agrana.com

 

This announcement is available in German and English at www.agrana.com.