Ingredion to borrow under credit facilities to fund Penford purchase

By Tali Rackner

Norfolk, Va., Oct. 15 – Ingredion Inc. plans to use funds available under its existing credit facilities to help fund the roughly $340 million cash acquisition of Penford Corp., according to a press release.

The company will also use available cash for the transaction.

Ingredion is a Westchester, Ill.-based maker of starches and sweeteners. Penford is a Centennial, Colo.-based company that develops, manufactures and markets specialty ingredients systems for food and industrial products.

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