This acquisition follows Innophos’s acquisition of mineral ingredients supplier Kelatron Corp. this past November.
Phosphates specialist Innophos Holdings Inc. (Cranbury, NJ), parent company of Innophos Inc., has acquired mineral ingredients firm AMT Labs Inc. (North Salt Lake, UT) for $27 million, the firm announced. This acquisition follows Innophos’s $21 million acquisition of mineral ingredients supplier Kelatron Corp. (Ogden, UT) this past November.
Privately held firm AMT Labs specializes in producing mineral ingredients in various bioavailable forms, including chelates, and ascorbates and citrates.
“AMT is highly complementary to the Kelatron business acquired by Innophos in November 2011,” Innophos stated in a press release. “The combined businesses of Kelatron and AMT make Innophos a leader in high-growth U.S. bioactive mineral ingredients, with annualized revenues approximating $30 million.”
Randy Gress, Innophos chairman and CEO, continued, “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. AMT’s 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.”