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ST. LOUIS, June 14, 2011 — ICL Performance Products, a leading global specialty phosphate producer, today announced it has signed an agreement to acquire Cosmocel Quimica S.A. de C.V., a subsidiary of Cosmocel Group. The acquired company is based in Monterrey, Mexico and is involved in the manufacturing and sale of functional food ingredients and specialty chemicals which are sold today under the Cosmocel brand. This acquisition is expected to close in the coming weeks.
“Through this acquisition, ICL Performance Products is expanding our reach in the food, beverage and specialty chemical markets,” said Charles Weidhas, ICL Performance Products LP president and CEO. “We are broadening both our product portfolio and our geographical customer base. This will allow us to expand our ability to meet our customer’s needs, especially in the bakery, dairy and beverage markets. In addition, it reinforces our position as a global leader in the phosphates and food ingredient industry.”
Cosmocel Quimica S.A. de C.V. is well known for high quality standards in production and service and has been a well-established Mexican market leader for more than 50 years. ICL will acquire the company’s state-of-the-art manufacturing facility in Monterrey, Mexico and its extensive sales and distribution network in Mexico, Central and South America.
Under ICL Performance Products, the acquired company will operate as ICL Fosfatos y Aditivos México, S.A. de C.V.
Seale & Associates, Inc., acted as exclusive financial advisor to Cosmocel Group in the transaction.