Ingredion (INGR) Completes $165M Sale of Rafhan Maize Stake

Ingredion Incorporated (NYSE:INGR) is one of the 9 Most Oversold Strong Buy-Rated Stocks to Invest In Now.

On June 30, 2026, Ingredion Incorporated (NYSE:INGR) completed the sale of a 51% interest in Rafhan Maize, a local manufacturer of food and industrial ingredients, to a group of affiliated purchasers led by Nishat Hotels and Properties. Ingredion retained an approximately 20% ownership interest in Rafhan Maize after the close. The purchase price paid to Ingredion was approximately $165M. The transaction was announced on September 29, 2025, and Ingredion’s Pakistan business delivered net sales of approximately $250M for full-year 2025.

Earlier in June, Ingredion announced a recommended all-cash offer to acquire Tate & Lyle. The transaction implies a total enterprise value of approximately GBP 3.7B, or $5B, and Tate & Lyle shareholders will receive 595 pence per share, representing an approximate 59% premium to Tate & Lyle’s closing share price as of May 13. The deal is expected to generate approximately $130M in run-rate net cost synergies, fully realized by the end of 2030, with one-time costs of approximately $175M. Ingredion expects the acquisition to be adjusted EPS accretive in the first year after completion.

Ingredion plans to finance the acquisition through existing cash, new debt financing, and, if needed, a fully committed bridge financing facility. The company expects pro forma net leverage at completion of approximately 3.0x net debt-to-adjusted EBITDA and plans to reduce leverage to approximately 2.5x within about 18 months after completion. The transaction has been unanimously approved by Ingredion’s board, and completion is expected in the second half of 2027, subject to required approvals and conditions.

Ingredion Incorporated (NYSE:INGR) manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from corn and other starch-based materials worldwide.

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