Innophos to borrow from credit facility to acquire Novel Ingredients

By Sarah Lizee

Olympia, Wash., Aug. 1 – Innophos Holdings, Inc. announced that it plans to borrow from its existing credit facility to fund the $125 million acquisition of Novel Ingredients.

The goal of the acquisition is to grow Innophos’s Food, Health and Nutrition portfolio and increase its presence in nutrition end-markets.

The annual cost synergies are estimated at $4 million and the present value from tax synergies is estimated at $11 million.

The transaction is expected to close in the third quarter of 2017.

Cranbury, N.J.-based Innophos is a producer of specialty ingredient solutions for food, health, nutrition and industrial markets. Novel Ingredients is a specialty ingredients solution provider based in New Jersey.

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