One Rock Capital Explores Selling $3bn Food Additives Maker Innophos

One Rock Capital Partners, a mid-market private equity firm, is weighing options for portfolio company Innophos Holdings, including a sale that could value the maker of food additives at more than $3bn, according to people familiar with the matter.

The private equity firm is working with advisers to explore strategic options for Cranbury, New Jersey-based Innophos, said the people, who asked to not be identified because the discussions are private. No decisions have been made and One Rock could elect to keep the business, the people said.

Representatives for One Rock and Innophos didn’t respond to requests seeking comment.

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A sale would represent a relatively fast turnaround for One Rock, which acquired Innophos in 2020 for about $932 million, including debt. Private equity firms typically hold onto companies for three to five years.

Innophos, with operations throughout North America and China, makes ingredients for improving the taste and texture of products including cheese, baked goods and sports drinks, with brands including Bergavit, Cransmart and Oxyjun, according to its website.

One Rock, with offices in New York and Los Angeles, also owns stakes in companies including North Pacific Paper Co. and OLM Food Solutions, according to its website.

Source: BNN Bloomberg

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