Phosphates and Acidulants

RSS

The Firmament Group, a provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced an investment in Citrus Extracts, LLC.

Vita-Pakt Citrus Products Co., a global manufacturer of specialty citrus products for the juice, baking, dairy, retail, nutraceutical and food service industries, appointed Mark Reed as president and chief operating officer, effective May 1, 2020.

This expansion closely follows the previously announced 4,000 MT malic acid expansion completed in 2019, as well as the installation of a new 22,500 MT maleic anhydride reactor, which will also be operational by Q1 2021.

In conjunction with the completion of the transaction, Richard Hooper has been appointed CEO of Innophos, effective immediately. Hooper is an industry veteran with 40 years of specialty materials experience.

The offer price represents an 18% premium to the 30-trading day volume-weighted average closing share price of Innophos’ common stock ended Sept. 9, 2019, the last trading day prior to published market speculation regarding a potential transaction involving the company.

Featuring an expanded customer center and investor section, as well as responsive search capability, the new website is an important step forward in the company’s Vision 2022 journey.

The reactor will expand the company’s maleic anhydride capacity ahead of anticipated long-term growth in the global acidulants market. It further integrates Bartek’s upstream raw material production with its downstream finishing capacity.

Bartek’s investment in both its team and facilities reinforces its position as the leader in malic and fumaric acid globally and aligns with its mission to facilitate growth and increase global reach to better serve existing customers and markets while opening up new ones.

The first in a series of capital investment projects to support its growing acidulants business, Bartek is expanding capacity and capabilities to allow for greater flexibility and support of its food, beverage, and confectionery; animal nutrition; and industrial customers. 

The new, naturally derived preservative is not the first clean label mold inhibitor to reach the market, but it is the first to equal the performance of calcium propionate without adversely affecting product flavor.