Balchem Closes CMC Deal
Chelated Minerals Corporation is a privately held manufacturer and global marketer of mineral nutrition supplements for multi-specie animal feeds.
Balchem Corporation has announced that its wholly owned subsidiary, Balchem Minerals Corporation has acquired Chelated Minerals Corporation, a privately held manufacturer and global marketer of mineral nutrition supplements for multi-specie animal feeds. This acquisition was previously announced on November 7, 2005. BMC acquired all of the outstanding capital stock of CMC for $17,350,000, before working capital and other adjustments.
"We are very pleased to conclude the acquisition of Chelated Minerals Corporation. With this addition, Balchem Animal Nutrition & Health has a leadership position in two key nutrient delivery technologies, chelation and encapsulation, with which we expect to create synergies and solutions for our customers across animal markets. As with Balchem's encapsulated ingredient product line, featuring our REASHURE Choline, CMC has built a portfolio of quality products based upon definitive science and research, with proven animal performance responses," said Dana Putnam, Balchem's Director of Animal Nutrition & Health.
CMC, as a wholly owned subsidiary of BMC, will continue manufacturing these essential nutritional supplements for animal diets at its operations facility in Salt Lake City, Utah.
