PENX Profile
Penford Corporation (PENX) was a specialty ingredient company that developed and produced renewable and sustainable ingredient systems for food, industrial, and energy markets. In 2018, the company was acquired by Ingredion Incorporated.
As of its most recent financial reports before the acquisition, PENX reported net sales of $454.6 million for the fiscal year ended August 31, 2017, an increase of 1.3% compared to the previous year. The company reported a net loss of $2.2 million for the same period.
Penford's growth strategy included expanding its product portfolio, leveraging its technical expertise to develop new applications for its products, and pursuing strategic partnerships and acquisitions to enhance its product offerings. The company's focus on renewable and sustainable ingredient systems has enabled it to establish a strong presence in the specialty ingredients market.
Investing in specialty ingredient companies like Penford carries market risks, including the risk of market volatility, changes in consumer preferences and trends, and competition from other specialty ingredient providers. Investors should carefully consider these risks before investing in PENX (now part of Ingredion) and consult with a financial advisor to determine if it is an appropriate investment for their portfolio. They should also review the company's public disclosures and financial statements to gain a better understanding of its financial performance and risks.
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