Gum Technology Corp., Tucson, Ariz., and Penford Corp., Centennial, Colo., have entered into an agreement whereby Penford will acquire Gum Technology. Gum Technology is a provider of hydrocolloid stabilizing systems; Penford produces modified specialty starches for the food, pet products and paper industries.
“We are pleased to join Penford and anticipate exciting opportunities to combine our companies’ expertise in product lines and broad geographic reach,” says Allen Freed, CEO of Gum Technology. “With Penford’s resources and product knowledge, we can immediately begin advancing Gum Technology’s GumPlete line of gum-starch blends.”