Innophos acquires Kelatron Corp.
Nov. 3, 2011
by Keith Nunes
CRANBURY, N.J. — Innophos Holdings, Inc. has acquired Kelatron Corp., Ogden, Utah, the manufacturer of bioactive mineral nutrients used in nutritional and dietary supplements. The purchase price of the transaction is valued at $21 million.
“The acquisition of Kelatron represents a perfect fit with our strategy of targeting high quality bolt-on acquisitions that add specialty ingredient product technologies to complement our current product offering,” said Randy Gress, chairman and chief executive officer of Innophos. “Kelatron has a strong position in an attractive, growing, nutraceutical market and has significant manufacturing and technical capability. The combination of Innophos’ strong worldwide customer relationships within the food, beverage and pharmaceutical industries and Kelatron’s expertise in the high value, high growth rate, mineral fortification market is expected to bring significant benefits to both companies.”
Innophos said it expects the acquisition to be accretive to its results in 2012.