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Business
Innophos to buy Novel Ingredients
by Melody M. Bomgardner
August 7, 2017
| A version of this story appeared in
Volume 95, Issue 32
The specialties firm Innophos will acquire Novel Ingredients, a New Jersey-based maker of dietary supplement ingredients, for $125 million in cash. The move is part of Innophos’s strategy to grow its food, health, and nutrition portfolio. The company named megatrends such as health and wellness, energized aging, and clean labels as drivers for the deal. Novel Ingredients had revenues of $100 million, growing at 19% per year. The company, with 100 employees, supplies botanicals, proteins, amino acids, and customized formulations.
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