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Ingredion to acquire Penford for approximately $340 million

2014-10-16 00:30:12| Chemicals - Topix.net

Westchester, Ill.-based Ingredion Inc., a global ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients, entered into a definitive agreement to acquire Penford Corp., a Centennial, Colo.-based leader in specialty ingredients for food and non-food applications. The purchase price of approximately $340 million represents a synergy-adjusted earnings before interest, taxes, depreciation and amortization multiple of approximately seven times on an enterprise-value basis.

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Category:Chemicals

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