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Chicago’s Morton Salt Trades in $3.2B Deal
Stone Canyon Industries Holdings (SCIH) has entered into an agreement to acquire K+S Aktiengesellschaft’s Americas salt business, including Chicago-based Morton Salt, for $3.2 billion. The closing of the transaction is expected to occur by summer 2021.
“We are proud and excited to acquire the iconic Morton Salt brand and the family of K+S Americas products,” said James Fordyce, co-CEO of SCIH. “The Americas salt business adds an integral component to SCIH’s long-term, growth-oriented business model.”
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 K+S Windsor Salt (Canada), acquired in 2009.
It’s not yet clear what the sale will mean for Morton Salt’s Chicago headquarters presence. Founded in Chicago in 1848, the company moved its headquarters to the River Point development in 2015 after decades at 110 N. Wacker Dr.
Pictured: Morton Salt headquarters at River Point.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
