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New Hampton, New York, February 1, 2016. Balchem Corporation (NASDAQ:BCPC) today announced that it acquired Albion International, Inc., a privately held manufacturer of mineral amino acid chelates, specialized mineral salts and mineral complexes, headquartered in Clearfield, Utah for a purchase price of $111.5 million in cash. Albion’s 2015 revenues were approximately $53.5 million. The acquisition purchase price reflects a multiple of approximately 10.7 times 2015 EBITDA, excluding any synergies. The transaction consideration is subject to certain adjustments as provided in the definitive agreement. The purchase price will be financed through the Company’s existing revolving credit facility and cash on hand. The transaction is expected to be immediately accretive to Balchem’s earnings per share.
Albion has been a world leader and innovator in the manufacture of superior organic mineral compounds for sixty years. With over 100 patents, Albion leverages scientific expertise in the areas of both human and plant nutrition. Albion’s products are renowned in the supplement industry for technologically advanced, unparalleled bioavailability.
With this acquisition, Balchem continues to expand its science based human health and wellness solutions. Already the global leader in the essential nutrient, choline, Balchem will immediately expand the combined company’s product offerings in the nutritional ingredient market by adding Albion’s premier branded innovative chelated minerals to its portfolio. The combined company will also benefit from a broader geographic footprint and an even stronger position as a technological leader in spray-drying and ingredient delivery solutions.
“We are very excited to add Albion’s deep scientific expertise, broad patent portfolio, and premium branded products to our company. This acquisition creates a broader nutritional platform for Balchem that will help our customers improve their nutritional and wellness solutions,” said Ted Harris, President and CEO of Balchem.
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