Innophos acquires Triarco Industries for $46 million
CRANBURY, N.J. — Innophos Holdings, Inc. has completed its acquisition of Triarco Industries, Inc. for $46 million.
Triarco manufactures custom ingredients for the food, beverage, dietary supplement and nutraceutical industries and specializes in botanical and enzyme based ingredients that provide benefits for markets such as sports nutrition, dietary supplements and fortified beverages.
Triarco has annual revenues of about $25 million and margins comparable with those earned by Innophos’ existing Specialty Ingredients businesses. It is also complementary to the Kelatron and AMT businesses, mineral ingredient businesses Innophos acquired in 2011 and 2012. The combined businesses of Kelatron, AMT and Triarco enhance Innophos’ position in the nutritional ingredients end markets with annual revenues of more than $50 million.
“Triarco has strong positioning in and a deep understanding of a variety of end markets and has been successful in developing a co-branding strategy to improve consumer recognition of the ingredients they provide,” said Randy Gress, chairman and chief executive officer of Innophos. “We look forward to leveraging our combined customer relationships and product offering to drive growth while strengthening the quality and efficiency of our supply chain.”