ICL Performance to acquire Cosmocel Quimica
June 14, 2011
by Eric Schroeder
ST. LOUIS — ICL Performance Products, a global specialty phosphate producer, has signed an agreement to acquire Cosmocel Quimica S.A. de C.V., a subsidiary of Cosmocel Group. Based in Monterrey, Mexico, Cosmocel manufactures functional food ingredients and specialty chemicals that are sold under the Cosmocel brand.
“Through this acquisition, ICL Performance Products is expanding our reach in the food, beverage and specialty chemical markets,” said Charles Weidhas, president and chief executive officer of ICL Performance Products. “We are broadening both our product portfolio and our geographical customer base. This will allow us to expand our ability to meet our customer’s needs, especially in the bakery, dairy and beverage markets. In addition, it reinforces our position as a global leader in the phosphates and food ingredient industry.”
As part of the transaction, ICL will acquire the Cosmocel’s manufacturing facility in Monterrey and its sales and distribution network in Mexico, Central and South America.
Under ICL Performance Products, the acquired company will operate as ICL Fosfatos y Aditivos México, S.A. de C.V.