Hawkins, Inc. to take over Stauber Performance Ingredients from Private Equity Investor
North American chemical distributor Hawkins, Inc. (Roseville, MN – United States) has announced that it has entered into a definitive agreement under which Hawkins has agreed to acquire Stauber Performance Ingredients (Fullerton, CA – United States) from ICV Partners II, L.P. and other shareholders in a cash for stock transaction.
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.
To fund the acquisition, Hawkins say it intends to use cash on hand and has secured a committed financing facility with two banks. The transaction is subject to customary closing conditions, including clearance under the Hart Scott Rodino Antitrust Improvements Act. Closing is expected to be in in late December.
Source: Hawkins website
HGE – DCG / 01.12.2015