Ingredion Incorporated (NYSE:INGR) was among the stocks on Jim Cramer’s radar on Mad Money, as he advised investors to care about where a stock is going, not where it has been.
Cramer noted the company’s latest acquisition announcement, as he commented: I want to talk to you about a consolidator that might not be getting the credit it deserves, a company called Ingredion
It’s a company that makes all sorts of flavors and textures for the food and beverage industries. Stock’s down 10% for the year, in part because the company reported an imperfect quarter in early May. But earlier this month, Ingredion announced they’re acquiring Tate & Lyle, a storied British ingredients company, for roughly $3.6 billion in cash.
Now, keep in mind, this company only has $6.2 billion market capitalization. This is a huge deal that will create a powerhouse in the ingredients space. While the market barely reacted to the news, I think that’s a mistake… When you see the market, you’ll see that the stocks in decline.