Stone Canyon Industries Holdings LLC, Kissner Group Holdings minority owner and CEO Mark Demetree and affiliates closed on their acquisition of K+S Aktiengesellschaft’s Americas salt business, including Morton Salt, for a previously disclosed purchase price of approximately $3.2 billion.
“We are excited to move to the next stage of Stone Canyon’s acquisition of the iconic Morton Salt brand and the family of K+S Americas products,” said James Fordyce, co-chairman and co-CEO of Stone Canyon. “Combined with Stone Canyon’s Kissner Group Holdings, the Americas salt business offers an extensive line of products to consumers as well as governmental and commercial customers. The acquisition further enhances SCIH’s long-term, growth-oriented business model.”
The acquisition will be integrated into the Kissner Group Holdings, which Stone Canyon acquired in 2020. Kissner is a leading pure-play producer and supplier of salt in North America. Headquartered in Overland Park, Kansas, Kissner produces bulk salt, specialty salt and evaporated salt for consumers, governmental and commercial customers across the United States and Canada.
The K+S Americas operating unit mainly comprises K+S Chile, formerly known as the Chilean company SPL, acquired by K+S in 2006, as well as Morton Salt (USA) and Windsor Salt Ltd. (Canada), acquired in 2009. Morton has more than 3,500 employees located in the U.S. and worldwide.
Mark Demetree, executive chairman and CEO of Kissner, said, “The closing of this acquisition is another milestone in our partnership with Stone Canyon, and allows us to expand Kissner’s capabilities to deliver high-quality products and service to our customers. We look forward to integrating Morton Salt and the other K+S Americas products into Stone Canyon. And going forward, the combined company will be known as Morton Salt.”
Stone Canyon will divest its US Salt subsidiary, based in Watkins Glen, New York, as part of an agreement with the U.S. Department of Justice to proceed with the acquisition. US Salt has been in operation for 100 years and is operated as an independent entity within Stone Canyon.