Given a Noetherian ring A, the collection of integrally closed ideals in A which contain a nonzerodivisor forms a cancellative monoid under the operation I * J = IJ ¯ , the integral closure of the product. The monoid is torsion-free and atomic. Restricting to monomial ideals in a polynomial ring, there is a surjective homomorphism from the Integral Polytope Group onto the Grothendieck group of integrally closed monomial ideals under translation invariance of their Newton Polyhedra. The Integral Polytope Group, the Grothendieck group of polytopes with integer vertices under Minkowski addition and translation invariance, has an explicit basis, allowing for explicit factoring in the monoid.