On Oct 6, I'd posted to Snow Magazine's social media outlets that the deal appeared close, according to a Chicago Crains article. However, Bloomberg reported soon after that it received confirmation of the sale from Morton's parent company, K&S AG. K&S had acquired Morton in 2009 for $1.7 billion. It's now selling the salt business to focus on its potash fertilizer business. This current sale price includes debt, according to Bloomberg.
CLICK HERE to read the entire Bloomberg article.
Bringing two major US salt produces together, Kissner, which is controlled by Stone Canyon Industries Holdings, now becomes a powerhouse salt provider to the professional snow and ice management industry. The merger leaves some questions among salt-buying snow professionals about market competition and potential monopoly issues. The market's other major competitors serving the professional snow and ice management industry include American Rock Salt, Cargill, and Compass Minerals.
Could we see prolonged anti-trust review by the Federal Trade Commission in the coming months before the ink dries on the deal in Summer 2021? Time will tell.