K+S Closes Americas Salt Sale to Stone Canyon
German potash and salt producer K+S has completed the sale of its Americas salt business to US-based global industrial holding company Stone Canyon Industries Holdings. Burkhard Lohr, chairman of the board of executive directors at K+S, said the transaction is a major step toward reducing the company’s debt.
The Americas business comprises K+S Chile, acquired in 2006 and formerly known as SPL, Morton Salt (USA), acquired in 2009, as well as Windsor Salt (Canada). Taking into account debt and cash, the purchase price was roughly €2.6 billion.
Stone Canyon will integrate the newly acquired assets into Kissner Group Holdings, which it bought in 2020. Headquartered in Overland Park, Kansas, Kissner produces bulk, specialty and evaporated salt for customers across the US and Canada. Going forward, the K+S Americas business will be known as Morton Salt.
The sale’s closure on Apr. 30 followed antitrust clearance by the US Department of Justice on Apr. 19. However, in order to get the deal approved, Stone Canyon has to divest its US Salt subsidiary in Watkins Glen, New York.
Author: Elaine Burridge, Freelance Journalist
