Ingredion completes $165M sale of 51% stake in Pakistan subsidiary Rafhan Maize

Filed June 30, 2026 · Period ending June 30, 2026 · ~1 min read

Key Changes

• high

  Ingredion received $165 million cash for its 51% controlling stake in Rafhan Maize, a Pakistan-based starch and glucose manufacturer that generated $250 million in net sales in 2025.

  Item 8.01 — Other Events verify on EDGAR →
• medium

  Ingredion retains a 20% minority interest in Rafhan Maize with a put option exercisable starting in year five, providing an exit mechanism for the remaining stake.

  Item 8.01 — Other Events verify on EDGAR →
• medium

  The Nishat Group acquired 78% total ownership including Ingredion's stake plus shares from other minority holders, becoming the majority owner.

  Item 8.01 — Other Events verify on EDGAR →