The acquisition is expected to be accretive to Innophos’ earnings per share in the first year following the close of the transaction.
Innophos Holdings, has acquired NutraGenesis, a Vermont-based marketer of proprietary, branded and science-backed nutraceutical ingredients.
Under the terms of the purchase agreement, Innophos has acquired all of the outstanding equity interests of NutraGenesis, Icon Group LLC and Tradeworks Group, together referred to as NutraGenesis, for a total purchase price of $28 million in cash. Innophos has funded the acquisition with borrowings under its existing credit facility. The acquisition is expected to be accretive to Innophos’ earnings per share in the first year following the close of the transaction.
“The addition of NutraGenesis’ innovative, science-backed branded ingredients to our Food, Health and Nutrition portfolio more closely aligns Innophos with consumer mega-trends such as health and wellness, energized aging and clean labels,” said Kim Ann Mink, PhD, chairman, president and CEO of Innophos Holdings. “This transaction builds on the recent acquisition of Novel Ingredients, and further strengthens our position as a leading specialty ingredient solutions provider to attractive end-markets. In addition, NutraGenesis’ asset-lite business model, complementary capabilities and established presence in high-growth nutraceutical markets make this a high-value addition for Innophos.”
NutraGenesis has a strong and established portfolio of branded ingredients, supplying leading U.S. and international developers with branded nutritional ingredients.
