Innophos completes acquisition of AMT Labs for $27m in US

The agreement includes 100% of the equity of AMT Labs as well as an affiliated real estate company h…

The agreement includes 100% of the equity of AMT Labs as well as an affiliated real estate company holding of all AMT real property, including unused land and buildings to support future expansion.

Of the combined purchase price, $19.5m was allocated for the AMT purchase and $7.5m for the real estate entity.

The acquisition is expected to be accretive to results in 2012.

AMT, based in North Salt Lake, Utah, specializes in manufacture of mineral ingredients for the human diet, which are produced in various forms, including as chelates so that it can be easily digested.

According to Innophos, AMT complements its Kelatron business, which was acquired by Innophos in November 2011. The combined businesses strengthen Innophos' position in US bioactive mineral ingredient market, and will enable the company to achieve annual revenues of approximately $30m.

Innophos chairman and CEO Randy Gress said the acquisition is a part of the company's strategy to expand in product categories closely related to its 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," Gress added.

Headquartered in Cranbury, New Jersey, Innophos is a leading international producer of performance-critical and nutritional specialty ingredients for food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets.