Ingredion Inc., Westchester, Ill., has entered into a definitive agreement to acquire Centennial, Colo.-based Penford Corp., a U.S.-based leader in specialty ingredients for food and non-food applications. The acquisition has been approved by the boards of directors of both companies. It is subject to approval by Penford’s shareholders and regulators as well as to other customary closing conditions but could close as early as the end of the year. Ingredion expects to fund the approximately $340 million cash transaction with available cash and funds available under existing credit facilities. In other news, Ingredion has released a new video titled “Non-GMO confidence from the ground up” showcasing the company’s non-GMO starch, sweetener and nutrition ingredient solutions. The video also details the company’s non-GMO offerings, which are validated through the Truetrace identity preservation program and enrollment in The Non-GMO Project, a nonprofit organization dedicated to independent verification of non-GMO status.
Lawrenceville, N.J.-based iTi Tropicals launched a YouTube channel for food product developers that offers an in-depth look at some of the on-trend and timely issues regarding popular tropical fruits being used in various food and beverage formulations and applications. The iTi Tropicals YouTube channel is available at youtube.com/user/iTitropicalsInc.
Sharon Peek joined Novel Ingredient Services, West Caldwell, N.J., as vice president of manufacturing innovation. In this newly created position, Peek will work directly with manufacturers, helping them meet demanding technical requirements efficiently and cost effectively, the company says. She will report to Novel President Rick Antonoff.
Ganeden Biotech, Mayfield Heights, Ohio, shared that its 19th peer-reviewed study has been published in The Official Journal of the Anaerobe Society of the Americas. Conducted by Glenn Gibson, a professor at the University of Reading, in England, in the company’s validated intestinal model, the study found benefits to taking GanedenBC30 (Bacillus coagulans GBI-30, 6086) and prebiotics together versus taking prebiotics alone. In other news, the company revealed that GanedenBC30 has been approved by food and drug authorities in four Asian markets. GanedenBC30 now will be available in Japan, India, Taiwan and the Philippines as an ingredient for food and beverage fortification.
Biothera, Eagan, Minn., announced that Wellmune, its proprietary immune health ingredient, is officially registered with Informed-Sport and Informed-Choice. This designation marks Wellmune as tested for banned substances and quality assured for athletes.
Finlay Tea Solutions US Inc., Lincoln, R.I., appointed Patty DeGrazzio as regional account manager for the West Coast. She will be based in Burbank, Calif., to support the growing West Coast territory and be primarily focused on developing new and existing tea customers.
The Chicago-based Institute of Food Technologists (IFT) and Tate & Lyle Food Systems, London, announced a new student competition that will foster student innovation and scientific exploration of global food science issues. This new partnership focuses on the need for talented food scientists to meet future global demands for safe, nutritious and affordable food. Through the “IFT Global Student Innovation Challenge,” students from around the world will leverage their food science and technology knowledge to participate in a competition focusing on research and development challenges to create products that meet marketplace needs. For more information, visit ift.org.