Food & Beverage M&A » By The Online Investor Staff, updated Fri., Apr. 26, 5:48 AM
Recent mergers and acquisitions in the Food & Beverage M&A category.
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Slide #13. Penford Corporation — Gum Technology Corporation
Acquirer:
Penford Corporation (PENX)
Acquiree:
Gum Technology Corporation
Details:
Penford Corporation (NASDAQ:PENX), a leader in ingredient systems for food and industrial products, announced today that it has completed the acquisition of Gum Technology, an Arizona close corporation. Gum Technology is a gum and hydrocolloids blending, services and distribution company, generating revenues of about $12 million, primarily in the food and beverage industries.
Penford is a developer, manufacturer and marketer of natural-based ingredient systems for food and industrial applications, including fuel grade ethanol. Co. operates in two business segments: Industrial Ingredients and Food Ingredients. Each of Co.'s businesses utilizes its carbohydrate chemistry to develop starch-based ingredients. Co.'s Industrial Ingredients segment is a supplier of chemically modified starches to the paper and packaging industries. This segment also produces food grade corn starch for sale by Co.'s Food Ingredients business. Co.'s Food Ingredients segment is a developer and manufacturer of starches and dextrins to the food manufacturing and food service industries.
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