Balchem Corporation acquires encapsulation and agglomeration business from Loders Croklaan
Balchem will continue to operate the acquired business primarily out of Channahon, IL, with certain product manufacturing moving to other Balchem operations.
04/07/05 04/07/05 Balchem Corporation has acquired the encapsulation and agglomeration business of IOI Group, Loders Croklaan USA, LLC. Balchem will continue to operate the acquired business primarily out of Channahon, IL, with certain product manufacturing moving to other Balchem operations. This acquired business had sales of approximately six million dollars in Loders’ fiscal year ending June 30, 2005, and was financed from the cash reserves of Balchem.
“The integration of Loders’ fluidized bed encapsulation and agglomeration technologies with our current technologies will provide superior product lines that will address many needs in the food industry. Additionally, this acquisition enhances Balchem’s strategic initiatives as a supplier of encapsulated and agglomerated ingredients for use in the pharmaceutical industry,” said Dino A. Rossi, President and CEO of Balchem Corporation.
“We are thrilled to add the innovative products currently produced by Loders to our portfolio of encapsulated ingredients, and are particularly excited about expanding our technology capabilities, specifically designed for the pharmaceutical and supplementation industries. The prospect of developing novel applications for these markets is significant, and supports our commitment to technology growth and strengthening our business,” said Eric Smith, Balchem’s Vice President, Sales & Marketing, Human Food & Nutrition.
