Stone Canyon Buys K+S Salt Business

K+S AG of Germany has signed a contract to sell its Americas salt business bundled together as the Americas operating unit to Stone Canyon Industries Holdings LLC (SCIH), Mark Demetree and affiliates. The sales price is US$3.2 billion in cash and closing is expected to take place in summer 2021, subject to customary closing conditions, including approvals from regulatory authorities.

James Fordyce, SCIH’s co-CEO, said, “ We look forward to the addition of the K&S Americas salt business to SCIH. With its iconic Morton Salt brand and other industry leading products and solutions, the combination of the Americas salt business with SCIH’s Kissner Group Holdings allows us to expand our product offerings to consumers along with our existing government and commercial customers. The Americas salt business adds an integral component to SCIH’s long-term, growth-oriented business model.”

The Americas operating unit mainly comprises K&S Chile, acquired in 2006, as well as Morton Salt and K+S Windsor Salt acquired in 2009.

SCIH purchased the Kissner Group for about US$2.0 billion at the beginning of 2020. Kissner is a leading, vertically integrated bulk salt, specialty salt and evaporated salt producer focused on governmental and commercial customers across the United States and Canada.

Volume 34, Issue 20

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