Combining the resources of both organizations with enhance the product offerings, market position, and product development resources of both companies, they said in a release.
“For over 60 years, Albion has remained committed to quality research and development, and improving nutrition globally,” said Jim Hyde, CEO of Albion Minerals.
“Aligning with Balchem will help drive global market growth and provide customers with an expanded portfolio of proven products and outstanding service. Albion is excited to be part of Balchem Corporation and we look forward to the future.”
“We are very excited to add Albion’s deep scientific expertise, broad patent portfolio, and premium branded products to our company,” added Ted Harris, President and CEO of Balchem. “This acquisition creates a broader nutritional platform for Balchem that will help our customers improve their nutritional and wellness solutions.”
Balchem is the global leader in choline and the company will “immediately expand its nutritional ingredient offering by adding Albion’s branded, innovative chelated minerals to its portfolio”, it said in a release.
Other benefits of the acquisition listed by the companies include a broader geographic footprint and an even stronger position as a technological leader in spray-drying and ingredient delivery solutions.