VEENDAM, THE NETHERLANDS — Avebe and Ingredion on March 31 will end their distribution agreement for North America and Japan. The collaboration began in 2007 and at that time focused on sales of certain specialty product categories in North America and South America and for certain countries in Asia.
While Veendam-based Avebe offers a specialty potato starch portfolio, Ingredion, Westchester, Ill., on Oct. 15, 2014, said it had agreed to buy Penford Corp., Centennial, Colo., for about $340 million. Penford also supplies specialty potato starches. Ilene Gordon, president, chief executive officer and chairman of Ingredion, on Oct. 15 said the company would take a look at its business relationships and determine if they made sense for both parties.
Avebe originally collaborated with National Starch Food Innovation (now part of Ingredion) in 2007.
“At that time it was an appropriate solution to utilize the local resources of Ingredion for certain business areas at a time when Avebe was restructuring her business,” Avebe said. “In the meantime Avebe has made important strategic developments, which focus on higher value starch innovation and potato proteins. It is a logical step to take a more direct position in all global regions to ensure close connection with customers and market opportunities.”
