M&A
confidence high
sentiment positive
materiality 0.80
Balchem closes $332.5M acquisition of Kappa Bioscience, financed via credit facility and cash
BALCHEM CORP
- Purchase price ~NOK 3.3B ($332.5M) includes assumption and repayment of NOK 303.5M ($30.6M) of Kappa debt.
- Seller eligible for earn-out payment in 2024 of up to ~16% of NOK 3.175B based on growth targets.
- Kappa is a leading science-based manufacturer of specialty vitamin K2 for human nutrition.
- At Annual Meeting, shareholders elected three Class 1 directors, ratified RSM US LLP as auditor, and approved executive compensation on advisory basis.
- Acquisition financed through Balchem's existing revolving credit facility and cash on hand.