National Starch to acquire Penford’s Specialty Starch Business in Australia

National Starch, a subsidiary of AkzoNobel, has entered into an agreement to acquire Penford’s Australian specialty grain wet milling and manufacturing facility based in Lane Cove and certain other intellectual property and assets of Penford’s Australian specialty starch business.

Terms were not disclosed.

The acquisition will expand National Starch’s regional capability to supply specialty corn starches into food applications in the Asia-Pacific region.

It also complements National Starch’s market position as a leading supplier of specialty ingredients derived from a variety of different starch bases.

The acquisition also will add two new product lines to National Starch’s already extensive line 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 that expand its line of products for nutrition and health applications.