New Hampton, New York, June 2, 2017. Balchem Corporation (NASDAQ:BCPC) today announced that it has acquired Innovative Food Processors (IFP), Inc., a privately held manufacturer of agglomerated and microencapsulated food and nutrition ingredients, headquartered in Faribault, Minnesota. The financial terms of the transaction were not disclosed.
IFP is a domestic manufacturer of high performance powders and encapsulates that deliver leading consumer solutions in taste, performance and ingredient technology. With over thirty-five years of experience selling into and collaborating with global food, beverage and nutrition customers, IFP has customized processing capabilities focused on leading-edge agglomeration and microencapsulation technologies.
IFP will be integrated within Balchem’s Human Nutrition and Health business segment. The Human Nutrition and Health segment includes the Nutrition and Pharma business unit, which provides value added nutrition products, such as VitaCholine® and Albion minerals. It also includes the Ingredient Solutions business unit, which supplies customized food and beverage solutions under the SensoryEffects brand. With this synergistic acquisition, Balchem continues to expand its processing technology and market reach, bringing innovative and value-added systems to food, beverage and nutrition customers.
“We are very excited to bring IFP’s ingredient technology, processing capabilities and product portfolio into our company. This acquisition creates a broader ingredient-systems platform for Balchem that will help our customers improve their consumer food and beverage offerings,” said Mike Size, Vice President and General Manager, Ingredient Solutions.
About Balchem Balchem Corporation reports four business segments: Human Nutrition & Health; Animal Nutrition & Health; Specialty Products; and Industrial Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market. The Industrial Products segment manufactures and supplies certain derivative products into industrial applications.
Forward-Looking Statements This release contains forward-looking statements, which reflect Balchem’s expectation or belief concerning future events that involve risks and uncertainties. Balchem can give no assurance that the expectations reflected in forward-looking statements will prove correct and various factors could cause results to differ materially from Balchem’s expectations, including risks and factors identified in Balchem’s annual report on Form 10-K for the year ended December 31, 2016. Forward-looking statements are qualified in their entirety by the above cautionary statement. Balchem assumes no duty to update its outlook or other forward-looking statements as of any future date.
Ted Harris, Chairman, President and CEO said, "We delivered solid second quarter financials with record earnings from operations and adjusted EBITDA. I am particularly pleased with the excellent performance in our Human Nutrition and Health and Specialty Products segments, both delivering strong sales and earnings growth."
Join Ted Harris, Chairman of the Board, President, and CEO and Martin Bengtsson, CFO on Friday, October 25, 2024, at 11:00 AM Eastern Time (ET) to review 3rd Quarter 2024 financial results.
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