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Stock Market & Financial Investment News

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March 5, 2014
06:04 EDTPENXPenford to acquire Gum Technology Corp.
Penford has entered into a definitive agreement to acquire Gum Technology, a privately held gum and hydrocolloids distribution, blending and services company. Gum Technology, based in Tucson, Arizona, serves primarily the food and beverage industries and posted 2013 revenues of about $12M. The acquisition is expected to close in late March, and is expected to be accretive within the first year with significant growth occurring in subsequent years.
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