Penford Completes Gum Technology Purchase

Penford Corporation announced it has completed the acquisition of Gum Technology Corporation.

SOURCE: Glanbia Nutritionals Inc.

March 25/Centennial, Colo./Press Release -- Penford Corporation announced it has completed the acquisition of Gum Technology Corporation, a gum and hydrocolloids blending, services and distribution company serving primarily the food and allied industries.

"Gum Technology's product line, culture, and approach to the market are aligned with Penford's and with our efforts to build our specialty ingredients businesses. Both teams are enthusiastic about opportunities to create value for customers through technology, product innovation and technical service," said Tom Malkoski, Penford Corporation CEO. "With our expanded product line, we can offer customers a choice of innovative new products and a broad range of applications."

As a business unit of Penford Food Ingredients, Gum Technology will continue to offer a range of gums and other hydrocolloids throughout North America and Asia.

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