WESTCHESTER, Ill., June  30, 2026  (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE:INGR), a leading global provider of ingredient solutions to the food and beverage industry, today announced that it has completed the

INGR

Ingredion Completes Sale of Majority Equity Stake in Pakistan Business

Ingredion divests Rafhan stake, preserves minority link to ME and S Asia

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  <section data-block="information">
    <h3>Information</h3>
    <p>WESTCHESTER, Ill., June  30, 2026  (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE:INGR), a leading global provider of ingredient solutions to the food and beverage industry, today announced that it has completed the</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Ingredion completed the sale of 51% of Rafhan Maize to Nishat Hotels and Properties, retaining about 20% ownership. The $165 million deal reduces earnings volatility and frees capital for higher-growth opportunities. Pakistan operations contributed roughly $250 million in net sales in 2025, and Ingredion maintains access to Middle East and South Asia markets, supporting long-term growth.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Ingredion sells 51% Rafhan Maize stake; retains about 20% ownership.</li><li>Purchase price ~$165 million; close completed June 30, 2026.</li><li>Transaction reduces earnings volatility and frees capital for growth.</li><li>Pakistan Rafhan net sales were about $250 million in 2025 (unaudited).</li><li>Management cites ongoing access to Middle East and South Asia markets.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Ingredion Incorporated (INGR)</strong>: Announced completion of Rafhan Maize stake sale; retains minority stake; proceeds to fund growth.</li><li><strong>Rafhan Maize (NA)</strong>: Local Pakistani manufacturer; 51% sold to Nishat-led group; ING R retains 20% stake.</li><li><strong>Nishat Hotels and Properties Ltd (NISHAT.PK)</strong>: Lead purchaser; strengthens regional market access and ME/S Asia footprint.</li></ul>
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  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>Mergers and Acquisitions / Corporate Developments; fits as a strategic portfolio reshaping move with geographic exposure implications.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Deal completion provides ~$165 million cash inflow for ING R.</li><li>INGR retains ~20% ownership in Rafhan Maize.</li><li>Portfolio transformation aims to reduce earnings volatility.</li><li>Pakistan business net sales ~$250 million in 2025 (unaudited).</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>51% Rafhan Maize stake sold; ING R retains ~20% ownership.</li><li>Purchase price ~$165 million; close completed June 30, 2026.</li><li>Announcement date: September 29, 2025.</li><li>Pakistan Rafhan net sales: ~$250 million in 2025 (unaudited).</li><li>Global net sales 2025: ~$7.2 billion.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Neutral near-term; cash redeployment could unlock mid-term upside.</p>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>WESTCHESTER, Ill., June  30, 2026  (GLOBE NEWSWIRE) -- Ingredion Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/INGR">INGR</a>), a leading global provider of ingredient solutions to the food and beverage industry, today announced that it has completed the sale of a 51% interest in Rafhan Maize, a well-established local manufacturer of food and industrial ingredients to a group of affiliated purchasers lead by Nishat Hotels and Properties Ltd.</p>  <p>Nishat is a leading local operator in Lahore, Pakistan with a proven track record for success in a variety of business sectors including agriculture, textiles and apparel, banking, and hotels and hospitality.</p>  <p>Post-close, Ingredion retains an approximate 20% ownership interest in Rafhan Maize. The purchase price paid to Ingredion was approximately $165 million.</p>  <p>"This transaction continues the transformation of our portfolio and reduces earnings volatility while unlocking investment dollars that can be deployed to support higher-growth businesses," said <a href="https://www.globenewswire.com/Tracker?data=TZQ6T3eV2xIazREMjwkl4n-zyQy4tvNyTeos_apZBhHyEzJxsH_KDgR-0xuN66mLm84EZUwf16eOhd_atSUjXD_8cc6HPtIy2EPL8KypjVm0ZcbNOqH2iZ7MvA5nMFP-u2c6lwnazxkSbl433h58tnHZJZuIg5Uwg55GE4FhEn0kZerNRck9yy2eNkrBABYUWNs5dRO4WpwE7cpOMzk64jqZ417tHb-fG7EgoVJmSrO9sz5Fy-n5BzJXVrcOHiH0qgOpAQYDmljH1UyLpqLSXPnCbvupuisWM80ZaLqpw8TBBGVZ0PUPTxeE-fgsiO3nCXMCMSkwWWhtqeCjamm8cR8ip0UpM5Sz6ugea71wkMg=" rel="nofollow" target="_blank">Jim Zallie</a>, Ingredion’s chairman, president and CEO. "Retaining a relationship as a minority stakeholder in a strong, well-positioned business also provides continuity of access to Middle East and South Asia markets, which we see as long-term platforms for growth."</p>  <p>The transaction was announced on <a href="https://www.globenewswire.com/Tracker?data=qgiOyhgKlLCB04HpUgcVWGRCprduwzSjYpe6Bd9wDE0bARIF8MKHW6r7ndd1rGuHi2rTzCKNzJhXNWtHNjiHiaWMzRabTImcDB38-OIj2uOQrbJ47y0iMf3-6ZuI356OdalbOai8gVEkeLRV6l3J3s002cOHeuPeESkCaPEAVV-EpkFzkR-bjmBcEn2EQhH4GLEHJ365O6Cc5DBdOBQqXHAipnR87hSU2WJzCF8TyOo=" rel="nofollow" target="_blank">September 29, 2025</a>. For the full-year 2025, Ingredion’s business in Pakistan delivered net sales of approximately $250 million (unaudited).</p>  <p><strong>About Ingredion</strong><br></br>Ingredion Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/INGR">INGR</a>), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2025 annual net sales of approximately $7.2 billion, the Company turns grains, fruits, vegetables, and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs<sup>&#xAE;</sup> innovation centers located around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature, and technology together to make life better. Visit <a href="https://www.globenewswire.com/Tracker?data=5jZLP1T9Uqh-l6957sE2KzIrEWncquHCDzCHid2229WNrSofkRcvITPkFGYMTkRMSdKrPbsngeA05AtL0YsSTDhLdZcKB8WLWvVA9NkwPn09LeL_uBoY_0iRfqp0uPIrS_6PZ42S8jyhn6A2kz9WZbvOR-wrJAhIt59rs7rE2_PxFbuoldTSXQZF-aHvG3o-qhRM55-oWj0adKv2L8KtoEsGo7GDZX5xQ162hwxblqoKuFkI-xN0dZhhPgMw8D_D" rel="nofollow" target="_blank">ingredion.com</a> for more information and Company news.</p>  <p>Investors: Noah Weiss, 773-896-5242<br></br>Media: Rick Wion, 708-209-6323</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc1NDMyOSM3NjgzMzY0IzIwMDY4NDE="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MmY0NGMzM2QtMWRjZS00MDAwLThjM2UtOGVmNWQ3YWNmZGFlLTEwMTg0MTQtMjAyNi0wNi0zMC1lbg==/tiny/Ingredion-Incorporated.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/778e04aa-d52d-4cbe-9a68-b3f502efba46"><img src="https://ml.globenewswire.com/media/778e04aa-d52d-4cbe-9a68-b3f502efba46/small/ingredion-wtagline-logo-sm-rgbhex-jpg.jpg" border="0" width="150" height="127" alt="Primary Logo"></img></a></p>

Ingredion completed the sale of 51% of Rafhan Maize to Nishat Hotels and Properties, retaining about 20% ownership. The $165 million deal reduces earnings volatility and frees capital for higher-growth opportunities. Pakistan operations contributed roughly $250 million in net sales in 2025, and Ingredion maintains access to Middle East and South Asia markets, supporting long-term growth.

Ingredion Completes Sale of Majority Equity Stake in Pakistan Business

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