Hawkins, Inc. has completed the Acquisition of Stauber Performance Ingredients
North American chemical distributor Hawkins, Inc. (Roseville, MN – United States) has completed its acquisition of Stauber Performance Ingredients (Fullerton, CA – United Staes) from ICV Partners II, L.P. and its other shareholders in a cash for stock transaction on 23. December 2015.
Founded in 1969, Stauber offers specialty products and ingredients to the Nutrition, Food, Pharmaceutical, Cosmetic and Pet Care industries. The company has approx. 160 employees, and operates facilities in California and New York. Revenues were ca. USD 117 mn for the twelve months ended 30. September 2015.
Hawkins said the Stauber business will be reported as a third business segment, to be called Specialty Ingredients. According to the statement, the combined companies will have approx. 630 employees and revenues of nearly USD 500 mn (for the twelve months ended 30. September 2015).
The consideration paid to acquire the issued and outstanding shares of Stauber on a cash-free, debt-free basis was USD 157 mn, subject to customary post-closing purchase price adjustments.
To fund the acquisition, Hawkins has entered into a financing facility with U.S. Bank National Association and JP Morgan Chase Bank, N.A.
Source: Hawkins website
HGE – DCG / 05.01.2016