USA: Penfold tie up foodservice deal
Penford Corporation announced today that its Englewood, Colorado-based food ingredients group signed a multi-year contract to supply their patented, starch-based coating system to a global food service company beginning the first quarter of calendar 2001. The deal is anticipated to increase the food ingredients group revenue by $15 million annually, boosting the compounded annual growth rate for specialty starches to approximately 39 percent over the past three years. The global food service company's name is not being disclosed at this time.
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