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Stauber Ingredients joins Hawkins chemical supplier

Article-Stauber Ingredients joins Hawkins chemical supplier

Stauber Ingredients joins Hawkins chemical supplier
Hawkins, Inc., has agreed to acquire Stauber Performance Ingredients from ICV Partners II in a stock-for-cash transaction.

Hawkins, Inc., has agreed to acquire Stauber Performance Ingredients from ICV Partners II in a stock-for-cash transaction.

Stauber Ingredients, which has its headquarters in Fullerton, California, generated revenues of approximately $117 million for the 12 months ended Sept. 30. Hawkins has agreed to pay $157 million, subject to customary purchase price adjustments, to acquire the issued and outstanding shares of Stauber on a cash-free, debt-free basis, according to a Hawkins press release.

The purchase is the largest in the history the Roseville, Minnesota-based Hawkins, according to CEO Patrick H. Hawkins.

"We have previously stated our intent to expand our portfolio of value-added specialty products within new markets. Today’s announcement accelerates that strategy. Hawkins will gain a wider array of products and a customer base outside of our traditional focus. At the same time, Stauber’s distribution model is one we know well. With Hawkins’ long-term perspective and available capital, we can make key growth investments to maximize the significant potential we see with this new business segment,” Hawkins said.

Dan Stauber, CEO of Stauber Ingredients, said, "Our new parent company is built on a foundation of integrity, quality, and transparency. From what we have seen in various people we have interacted with and gotten to know so far (especially their CEO Patrick Hawkins), they are a perfect match for how we run our business."

Stauber Ingredients' management team will continue to operate the company, which will keep its identity.

Founded in 1969, Stauber offers specialty products and ingredients to the nutritional, food, pharmaceutical, cosmetic and pet-care industries. With approximately 160 employees, the company has facilities in California and New York.

Hawkins distributes, blends and manufactures bulk and specialty chemicals to a wide variety of industries. The company operates 38 different facilities in 17 states.

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