Cranbury, N.J. — Specialty phosphate maker Innophos Holdings Inc. said that it has completed the acquisition of AMT Labs, Inc., North Salt Lake, Utah. AMT is identified as a privately-held company that has been manufacturing high-quality 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). Innophos says AMT is highly complementary to the Kelatron business acquired by Innophos in November 2011. 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. “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,” said Randy Gress, Innophos chairman and CEO. An Innophos 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. The acquisition is expected to be accretive to results in 2012.
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