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SOURCE ICL Industrial Products
TEL AVIV, Israel, December 18, 2013 /PRNewswire/ --
- Acquisition to Expand ICL Food Specialties' Portfolio of Tailored, Functional Solutions -
- Acquisition in Line with ICL's "Next Step Forward" Strategy to Maintain Growth for the Next Decade through Acquisitions in the Food, Agriculture and Engineered Materials Markets -
ICL (TASE: ICL), a global fertilizers and specialty minerals company that fulfills essential needs of the world's growing population in the agriculture, food and engineered materials markets, today announced that it has entered into a definitive agreement to acquire Hagesüd Group ("Hagesüd"), a German producer of premium spice blends and food ingredients for meat processing. Following the acquisition, Hagesüd will become part of ICL Food Specialties.
The transaction includes all of the operating assets of the Hemmigen, Germany-based company, including Hagesüd's existing business, state-of-the-art production technology and warehouse facilities located in Hemmigen, Dortmund and Ottensoos, Germany with about 200 employees. Hagesüd is well established in the premium spice & ingredient market.
ICL's purchase of Hagesüd will complement its existing ICL Food Specialties' portfolio of functional ingredients and spice blends for the meat and poultry processing industries, combine know-how and strong brands and expand the customer offering to include tailored formulations that provide unique flavors with texture- and stability-influencing ingredients. Hagesüd's modern production facilities, expertise in spice formulations and high level of customer service will complement and strengthen ICL's position in the global meat processing market.
The acquisition of Hagesüd fits ICL Food Specialties' growth strategy and is aligned with ICL's previously announced "Next Step Forward" strategy to continue ICL's growth over the next decade through acquisitions and other initiatives in the agriculture, food and engineered materials markets.
ICL's activities in the global food sector are focused on functional ingredients that support trend-inspired consumer demand for new product development.
Mr. Mark Volmer, President and CEO of ICL Performance Products, emphasized: "Our acquisition of Hagesüd will provide our Food Specialties unit with an additional platform for growth and profitability. Our respective sales and marketing organizations are similarly focused on customizing innovative products for the global meat industry. Combining our resources will provide us with a stronger distribution network and cross-selling opportunities in a key market in which both companies are active, as well as in new markets."
ICL is a leading specialty minerals company that fulfills essential needs of the world's growing population, primarily in three markets: agriculture, food and engineered materials. The Company's diversified portfolio of products help to increase global food supplies, improve industrial materials and processes, and make energy exploration activities more efficient and eco-friendly.
ICL produces approximately a third of the world's bromine, and is the sixth largest potash producer as well as the leading provider of pure phosphoric acid. It is a major manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions. ICL's mining and manufacturing operations, located in Israel, Europe, the Americas and China, are supported by a global distribution and supply network.
ICL benefits from a number of unique advantages, including its vertically integrated activities and complementary and synergistic downstream operations for the production of unique end products; its balanced and varied product portfolio in growing markets; and its worldwide presence with proximity to major global markets in developing regions.
ICL's shares are traded on the Tel Aviv Stock Exchange (TASE: ICL).
About ICL Performance Products
ICL Performance Products (ICL-PP), one of ICL's core operating segments, produces and markets food and industrial grades of phosphoric acid and phosphate salts, specialty phosphate products and services for detergents, water treatment, construction, and paper, as well as food additives and hygiene products. ICL-PP's production facilities are located in Europe, North and South America, Israel, Australia and China. For more information, visit http://www.icl-pp.com.
About ICL Food Specialties
ICL Food Specialties is a division of ICL Performance Products with global operations, sales and marketing of functional ingredients and blends for the food and beverage industries.
Forward Looking Statement
This press release contains forward-looking assessments and judgments regarding macro-economic conditions and the Group's markets, and there is no certainty as to whether, when and/or at what rate these projections will materialize. Management's projections are likely to change in light of market fluctuations, especially in ICL's manufacturing locations and target markets. In addition, ICL is likely to be affected by changes in the demand and price environment for its products as well as the cost of shipping and energy, whether caused by actions of governments, manufacturers or consumers. ICL can also be affected by changes in the capital markets, including fluctuations in currency exchange rates, credit availability, interest rates, etc.
Fleisher Communications and Public Relations
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