Ingredion Incorporated has announced that it has entered into an agreement with Oscar-winning film director James Cameron and his wife Suzi Amis Cameron to purchase the remaining portion of Verdient foods, which they founded in Canada in 2017, thereby giving 100% full ownership to Ingredion.
Focusing on the worldwide demand for sustainable plant-based proteins, it was established to bring changes needed in farming and industrial processes to make food production more sustainable and more profitable. Ingredion went on to establish a joint venture with Verdient Foods to produce pulse-based protein concentrates and flours from lentils, peas and fava beans for consumer food and animal nutrition applications.
Mr. Cameron famously produced The Game Changers, a hugely influential documentary that dispelled the myth that athletes need meat to perform. He and his wife have been vegan for some years after becoming concerned about how our food systems have been affecting the natural world.
Jim Cameron stated: “Ingredion is truly committed to breakthrough, innovative and sustainable plant-based solutions, and to revolutionizing food systems for the health of the planet. Our collective efforts and shared vision are about igniting change and delivering benefits to consumers around the world.”
The acquisition is expected to close this month; no details of the cost have been disclosed. Following the transaction, Ingredion will operate two facilities that can produce a wide range of speciality pulse-based concentrates and flours. Both facilities are located in Vanscoy, Saskatchewan, in Canada’s pulse-crop production area and serve as a prime location for the manufacturing and distribution of pulse-based ingredients to global markets.
Jim Zallie, Ingredion’s president and CEO stated in the press release: “Acquiring 100% ownership in Verdient Foods enables Ingredion to accelerate net sales growth, further expand our manufacturing capability and co-create with our customers to serve the increasing consumer demand for plant-based foods. Over the last two years, we have strategically invested over $200 million to build a leadership position in consumer-preferred plant-based proteins, which is central to Ingredion’s strategy and accelerating our Driving Growth Roadmap.
“We are well-positioned to continue capitalizing on and benefiting from the megatrends driving the changes in the global food and beverage industry. We look forward to building on the foundation set by James and Suzy Amis Cameron, who have been pioneers in driving transformational change in the food industry and creating a shared sustainable future for all.”