Innophos Completes AMT Labs Acquisition

CRANBURY, N.J.Innophos Holdings, Inc., a producer of specialty phosphate products for the food, beverage, pharmaceutical, oral care and industrial end markets, completed its $27 million cash acquisition of AMT Labs, Inc., a Utah-based manufacturer of custom ingredients for the food, beverage, confectionary and nutraceutical industries.

Innophos, Inc., a wholly owned subsidiary, purchased 100% 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 acquisition strengthens Innophos position in the high-value, growing mineral fortification sector. In November 2011, the company acquired bioactive mineral nutrients maker Kelatron Corporation for $21 million in stock.

Commenting on the transaction, Randy Gress, Innophos Chairman and CEO, said: The acquisition of AMT represents the second step in our adjacency strategy to expand in product categories closely related to our existing specialty phosphate product line. AMTs strengths are highly complementary to our new bioactive mineral ingredients business platform, providing high quality manufacturing facilities better able to support the future growth expected in this product range. AMT has also been developing new market potential for its products which we expect will bring commercial successes in addition to the expected portfolio synergies of the combined business of AMT and Kelatron, which itself has performed strongly since its acquisition by Innophos last year."