The Ingredia Group, through its subsidiary IDI Inc. announced today the acquisition of the assets of Kantner Ingredients, Inc. in Wapakoneta (OH). Founded in 1999, Kantner Ingredients manufactures blends and distributes dairy proteins for the food ingredient industry. The Company is based in Wapakoneta, Ohio and principally serves customers in the United States.
Under the terms of the transaction, which was announced on March 31, 2009, The Ingredia Group completed the acquisition of certain assets of Kantner Ingredients and Kantner Real Estate:
- A blending unit with a capacity of 35 million pounds per year,
- A customer portfolio in the Food and Nutritional industries.
The new venture will employ 20 people for an expected turnover above 50 millions USD. This acquisition is fully in line with our strategy which requires a broader international set up to further improve the service to our customers in the global markets of ingredients stated Alain Thibault, CEO of the Ingredia Group.
"The completion of this acquisition represents a significant step for IDI Inc. in our strategy to accelerate growth in the US," said Guy Kientz, chief executive officer of IDI Inc. "As a result of the acquisition, we will have a greater presence in this huge market where we see significant opportunities for growth. This will also enable us to secure our export activities formerly realized in partnership with Kantner Ingredients."
Source: IDI Ingredients
http://www.idi-ingredients.com/data/document/press-release.pdf