February 15, 2021 |
US ingredients maker Ingredion and Grupo Arcor, one of the biggest food processing companies in Argentina, said Friday that they have agreed to form a joint venture to supply food and beverage ingredients in Argentina, Chile and Uruguay.
Arroyito, Córdoba-based Arcor will own 51% of the new company, while Westchester, Illinois-based Ingredion will have 49%. The new company is expected to have an annual turnover of more than $300 million, the companies said in a joint statement.
Arcor will transf
US ingredients maker forms a joint venture with Argentina's Arcor to scale up business