Israel Chemicals Ltd. has signed an agreement to acquire Mexican functional food ingredients and specialty chemicals manufacturer, Cosmocel Química SA de CV. Israel Chemicals did not disclose the size of the deal, but said that it expects to close it very soon.
This is Israel Chemicals’ third acquisition this year, after acquiring Spanish fertilizer company Antonio Fuentes Mendez SA in April, and completing its acquisition of US company Scotts’ Global Professional business in March. Israel Chemicals is also investing heavily to expand its Spanish potash unit Iberpotash SA, expecting to complete it in 2014.
Cosmocel Química is a subsidiary of Monterey-based Cosmocel SA, a private manufacturer of specialty industrial chemical products, as well as food additives, specialty nutrients, and coadjuvants for agricultural markets. The company was founded in 1960.
ICL Performance Products will acquire Cosmocel Química’s state-of-the-art manufacturing facility in Monterrey, Mexico and its extensive sales and distribution network in Mexico, Central and South America. Cosmocel Química will operate as ICL Fosfatos y Aditivos México.
ICL Performance Products had in 2009 revenues of US$1.3 billion, which includes some US$34.5 million in internal sales. They are number one worldwide in glassy phosphates and specialty phosphate blends; second global producer in potassium phosphates; in Europe, they are in second place in dairy and farm hygiene and third in total food hygiene; in the Americas, they are a leading marketer of food phosphates; and leaders in merchant industrial phosphoric acid sales, electronic-grade specialty phosphoric acids & wildfire safety products. Their major markets are in Europe, North & South America, and Asia; their operating income in 2009 was of US$162.7 million.