AMT specialises in mineral ingredients essential to the human diet that are manufactured in various forms, including as chelates, to be easily digested (bioactive).
AMT is highly complementary to the Kelatron business acquired by Innophos in November 2011.
The combined businesses of Kelatron and AMT make Innophos a leader in high growth US bioactive mineral ingredients, with annual revenues approximating $30m.
In the transaction, Innophos Inc, a wholly owned subsidiary, purchased for cash 100% of the equity of AMT Labs Inc and an affiliated real estate company holding all AMT real property, including unused land and buildings to support future expansion.
The combined purchase price was $27m, with $19.5m being allocated to the AMT purchase and $7.5m being allocated to the real estate entity.
The transaction includes potential for additional consideration contingent upon success in developing new market opportunities.
Closing of the purchase occurred upon execution of the definitive agreements effective as of 17 July 2012. The acquisition is expected to be accretive to results in 2012.
Source: Innophos
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