Penford Corporation (NASDAQ: PENX), Centennial, Colo., said it 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, Ariz., serves primarily the food and beverage industries. Officials expect to complete the deal in late March, subject to closing conditions. Upon completion, they say Gum Technology would become a business unit of Penford.