Food Ingredient Firm Innophos Reportedly Mulling Sale

Food ingredient manufacturing firm Innophos Holdings Inc. is examining a potential sale with the help of a financial adviser, unidentified sources told Bloomberg.

The company has not yet made a final decision and it may ultimately decide to not proceed with a sale, the sources said in the news organization’s report Monday.  

Bloomberg reported that the price of Innophos’ stock rose by 9% on Tuesday, gaining about $619 million in value.  

Some other food ingredient companies have recently announced plans to expand their production capabilities. This August, Cargill said that it will invest $75 million in pea protein producer PURIS this August to help the firm open a new manufacturing facility in Minnesota and CK Kelco launched a project to expand gellan gum capacity at its Oklahoma plant.  

For more news headlines, articles, and equipment reviews, visit our Equipment Zones

More Innophos Holdings articles:

Eastman Chemical Names Innophos Holdings CEO to Board

Innophos Moves on $125M Acquisition of Supplement Maker

Innophos Elects Salmon Vice President and Chief Financial Officer