AkzoNobel To Acquire Penford’s Australian Specialty Starch Business

AkzoNobel has agreed to acquire Penford’s Australian specialty grain wet milling and manufacturing facility in Lane Cove, to boost the supply capability of its National Starch business in the Asia Pacific region. Financial details were not disclosed.

The deal, which also includes certain other intellectual property and assets of Penford’s Australian specialty starch business, is likely to expand National Starch’s regional capability to supply specialty corn starches into food applications in the Asia Pacific region.

The company said that the acquisition will add two new product lines to National Starch’s existing portfolio of specialty food starches. These include Penford’s clean label starch product technology, to complement National Starch’s Novation functional native food starches and additional resistant starch products, which will expand the business’ product range for nutrition and health applications.

Rob Frohn, board member responsible for specialty chemicals at AkzoNobel, said: “This is a strategic investment in National Starch’s global portfolio which further strengthens the business’ ability to support customers in the growing Asia Pacific region.”

Jim Zallie, managing director of National Starch, said: “This addition to our global supply network will shorten our supply lines of specialty starches into Australia and Asia, improve our competitive advantage.”