National Starch to acquire Penford starch business
by Bakingbusiness Staff
BRIDGEWATER, N.J. — National Starch has entered an agreement to acquire Penford’s Australian specialty grain wet milling and manufacturing facility based in Lane Cove.
The acquisition will include other intellectual property and assets of Penford’s Australian specialty starch business, and terms of the transaction were not disclosed.
"This is an excellent addition to our global portfolio and further strengthens our ability to support customers in the growing Asia-Pacific region," said James P. Zallie, president and chief executive officer. "The addition to our global supply network will shorten our supply lines of specialty starches into Australia and Asia, improve our competitive advantage and enhance our ability to strengthen our leadership position in the region."