News HighlightsPenford Corporation is now part of Ingredion Incorporated
With the acquisition of Penford Corporation, Ingredion has broadened its ingredient offerings to provide global customers even more: More ingredients, more innovation and more ideas.
As a manufacturer of specialty, nature-based ingredients for food and industrial applications, Penford offers a product portfolio that provides expanded and complementary products and know-how to Ingredion's growing line of on-trend solutions. Gum, gum blends and texture solutions for food applications including potato, tapioca, rice and corn based starches, allow Ingredion to offer customers more convenient and cost-effective solutions as well as added functionality.
And, with the addition of Penford's robust industrial segment, Ingredion can provide a variety of sustainable options for the paper, packaging and other industries, as well as cutting-edge R&D and technical expertise.
Questions & Answers
What is the latest news about the acquisition of Penford?Ingredion has finalized its acquisition of Penford. Penford Corporation is a U.S.-based maker of exciting nature-based specialty ingredient systems. The addition of Penford broadens Ingredion's already impressive range of texturizers, sweeteners, nutritional and industrial ingredients for a wide array of applications. With Penford's strong positions in starch specialties, biopolymers and specialty hydrocolloids, the combined business will offer even more product solutions to help you achieve the formulation, processing and front-of-pack claims you seek.
What benefits can I expect to see down the road from this?Ingredion wants to be your ingredient solutions supplier of choice. We believe that the combination of Ingredion's and Penford's extensive ingredient technology will result in novel solutions for you. Penford adds new technologies in texturizers and stabilizers and additional expertise in potato and corn specialties as well as other products based on hydrocolloids. The addition of Penford also creates U.S. manufacturing capacity for potato and gum specialties, improving our ability to service you efficiently.
If my company has signed a supplier agreement with both Ingredion and Penford, what impact does this have on the existing contract terms?The completion of the sale does not change the agreements in place between you and Ingredion or you and Penford.
Will you alter products or change production locations for products that I purchase or change specs as a result of this acquisition?No changes are anticipated with respect to product formulas, or for the time being where products are made.
Is anything changing in how we buy or pay for products?For now, nothing is changing in terms of how we manage your account. Please continue to work with your existing sales, customer service, technical support and credit contacts for Penford and Ingredion until further notice. Service and invoicing procedures are also unchanged.
Are you going to continue to serve me with my sales or service representative?Yes. As we move through the integration process and get a more detailed understanding of the customer landscape of the combined business, we will adjust our account management to provide optimal sales and service channels for our customers. Please continue to use the same contact names and numbers in each of the respective companies.
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