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Supplier of the Month: Innophos, Inc.

Dr. Kim Ann Mink
Chairman, President and
Chief Executive Officer

Innophos is a leading international producer of specialty ingredient solutions that deliver far-reaching, versatile benefits for the food, health, nutrition and industrial markets. The company leverages its expertise in the science and technology of blending and formulating phosphate, mineral and botanical-based ingredients to help its customers offer products that are tasty, healthy, nutritious and economical. Headquartered in Cranbury, NJ, Innophos has manufacturing operations across the United States, in Canada, Mexico and China.

Kim Ann Mink, PhD is chairman, chief executive officer and president of Innophos Holdings, Inc. With more than 30 years in the chemical industry, Mink began her career at the Rohm and Haas Company where she spent more than 20 years. Prior to joining Innophos in 2015, she served as a business president with the Dow Chemical Company. She is one of only a few woman CEOs in the chemical industry and was recognized in 2017 by CEO Connection as One of the Top 25 Most Influential Women of the Mid-market. Mink received her BA in chemistry from Hamilton College and a PhD in analytical chemistry from Duke University. She is a graduate of the Wharton School of Business Management Program.

NIE: Innophos has traditionally been a leading international producer of specialty phosphates for food and other applications. Over time, you’ve gradually expanded your product portfolio and increased your footprint in the health and nutrition markets. Can you talk more about this?

Mink: In recent years, there has been a clear trend toward healthy living; clean labels; wellness and nutrition; and energized aging. These mega trends have presented great opportunity for Innophos as we look to provide more meaningful solutions for our customers, respond to consumer demand and become more impactful within the high-growth nutrition industry. We are well positioned to leverage our expertise in the blending and formulation of vital ingredients to become a market-leading solutions provider to the food, health and nutrition (FHN) markets.

NIE: How is Innophos going to achieve growth in the FHN markets?

Mink: A significant portion of our growth in the FHN markets will be achieved through acquisitions. This is a key strategic accelerator for Innophos in this space. It is just a part of our overall strategic roadmap which sets us on a course for delivering meaningful expansion through targeted organic and disciplined inorganic growth. This is our vision for Innophos going forward—what we call our “Vision 2022.”

NIE: Can you elaborate on Vision 2022?

Mink: Vision 2022 is our five-year growth plan, which targets revenue growth to $1.25 billion and 20 billion adjusted EBITDA (earnings before interest, tax, depreciation and amortization) by 2022. Between organic and inorganic growth, and by executing against our strategic pillars of operational excellence, commercial excellence and strategic growth, we are confident that we can achieve this goal.

NIE: Last year, Innophos acquired Novel Ingredients and NutraGenesis. Tell us about your approach with these two milestone acquisitions and how they support your Vision 2022 goals.

Mink: Our guiding strategic principle was to find companies that expand and diversify our solutions capability in order to better respond to consumer mega trends and better serve our customers. We pursued opportunities that would pivot our offerings beyond phosphates and diversify our presence in higher-growth food, health and nutrition market segments. The acquisition of Novel Ingredients fully aligns with our Vision 2022 strategic priorities to grow our food, health and nutrition portfolio, increase our presence in attractive nutrition end-markets, and develop innovative solutions that better serve our customers. Additionally, it more closely aligns Innophos with important consumer mega-trends as discussed above. Bringing Novel and Innophos together created a FHN platform of nearly $0.5 billion in revenue.

The acquisition of NutraGenesis built on the momentum of the Novel transaction. The addition of NutraGenesis’ innovative, science-backed branded ingredients strengthens our growth profile and creates sustainable value for our customers and shareholders. NutraGenesis has a strong and established portfolio of branded ingredients supplying leading U.S. and international developers of branded nutritional ingredients. Their offerings are highly complementary to the Novel Ingredients acquisition and Innophos’ branded ingredients portfolio. As with Novel, NutraGenesis serves attractive high-growth end-markets—including stress reduction, weight management, joint health, brain health and metabolic wellness—that are driven by health and wellness consumer trends. These two acquisitions wholly support our Vision 2022 goals and will ultimately allow us to add even greater value for our customers.