Mantrose-Haeuser, which is a division of RPM International Inc., announced the acquisition today. The announcement said Profile Food Ingredients, which is based in Elgin, IL, has annual net sales of about $25 million. Additional details of the transaction were not disclosed.
Mantrose-Haeuser makes edible coatings that are used on softgels and tablets in the dietary supplement industry.
In early October, parent company RPM International reported $1.47 billion in net sales in its first quarter of fiscal year 2020. RPM has subsidiaries that deal in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products.
“Profile Food Ingredients is a strong synergistic fit with our Mantrose-Haeuser business and its Holton Food Products subsidiary, which will enable us to accelerate both top- and bottom-line growth of the companies,” said Frank C. Sullivan, RPM chairman and CEO. “This acquisition presents significant opportunities to leverage the combined sales forces of the entities, expand sales of specialty ingredients to the food industry and broaden our reach in international markets.”