The Boston company acquired United Organic and Waste Recovery Industries, both in California.
Boston-based Converted Organics (Nasdaq: COIN) said today it grabbed two California companies, bulking up its fertilizer and waste recovery products.
The company, which is developing environmentally friendly soil amendments and fertilizers from food waste recycling, acquired Gonzales, Calif.'s United Organic Products and Paso Robles, Calif.-based Waste Recovery Industries.
Financial terms for the deals were not disclosed.
"The acquisition of United Organic Products and Waste Recovery Industries’ assets catapults Converted Organics into a leadership position within the organic fertilizer industry and facilitates our immediate entry into the liquid fertilizer market," said Edward Gildea, president of Converted Organics.
With the United Organic purchase, Converted Organics said it's getting a liquid fertilizer product line, as well as a production facility that services a West Coast agribusiness customer base.
Converted Organics said the Waste Recovery acquisition makes its the exclusive owner of the High Temperature Liquid Composting system.
"The HTLC system, a proven, state-of-the-art microbial digestion technology that has been successfully producing high-quality commercial products for more than ten years, will become an integral part of our business and future growth," said Gildea.
Converted Organics said the HTLC system processes various biodegradable waste products into liquid and solid organic-based fertilizer and feed products.
Earlier this month, the company announced plans to build its second fertilizer plant in Johnston, R.I. Converted Organics' first facility is under construction in Woodbridge, N.J.
Converted, which had its initial public offering almost a year ago (see Cleantech.com's Converted Organics goes public on promise) was trading down slightly today on the news, losing 1.91 percent at press time to $9.75.
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