Innophos Completes Acquisition of AMT Labs

CRANBURY, N.J.Innophos Holdings Inc. completed the acquisition of AMT Labs Inc.. AMT, a privately held company based in North Salt Lake, UT, has been manufacturing custom ingredients for the food, beverage, confectionary and nutraceutical industries for more than 20 years. AMT specializes in mineral ingredients essential to the human diet that are manufactured in various forms, including as chelates, to be easily digested (bioactive). AMT is complementary to the Kelatron business acquired by Innophos in November 2011

In the transaction, Innophos, Inc., a wholly owned subsidiary, purchased for cash 100-percent of the equity of AMT and an affiliated real estate company holding all AMT real property, including unused land and buildings to support future expansion. The combined purchase price was $27 million, with $19.5 million being allocated to the AMT purchase and $7.5 million being allocated to the real estate entity. The transaction includes potential for additional consideration contingent upon success in developing new market opportunities. Closing of the purchase occurred upon execution of the definitive agreements effective as of July 17, 2012. The acquisition is expected to be accretive to results in 2012.