Innophos to acquire Novel Ingredients for $125 million
Innophos Holdings has entered into a definitive merger agreement to acquire Novel Ingredients, a New Jersey-based provider of dietary supplement ingredient solutions primarily owned by GenNx360 Capital Partners, a New York-based private equity firm.
Innophos Holdings has entered into a definitive merger agreement to acquire Novel Ingredients, a New Jersey-based provider of dietary supplement ingredient solutions primarily owned by GenNx360 Capital Partners, a New York-based private equity firm. Under the terms of the merger agreement, Innophos will acquire all the outstanding shares of Novel Ingredients for a total purchase price of $125 million.
“The acquisition of Novel Ingredients is an exceptional opportunity for our company and a significant step forward in achieving our strategic goals,” said Kim Ann Mink, chairman, president, and CEO of Innophos Holdings. “This transaction fully aligns with our Vision 2022 strategic priorities to grow our food, health, and nutrition portfolio, increase our presence in attractive nutrition end-markets, and develop innovative solutions that better serve our customers.”
The transaction is subject to customary closing conditions, including review under the Hart Scott Rodino Antitrust Improvements Act, and is expected to be completed in the third quarter of 2017.