Balchem Corporation Completes Acquisition of SensoryEffects
08 May 2014 --- Balchem Corporation has completed the acquisition of Performance Chemicals & Ingredients Company (d/b/a SensoryEffects), a supplier of customized food and beverage ingredient systems, headquartered in St. Louis, Missouri.
This acquisition was previously announced on March 31, 2014. Balchem acquired all of the outstanding capital stock of SensoryEffects for $567,000,000, before working capital and other adjustments.
Dino A. Rossi, Chairman, President and CEO of Balchem stated, “We are pleased and excited to complete this acquisition. With similar cultures and a common vision, we look forward to working with an experienced partner like SensoryEffects, wherein we can accelerate the growth of our combined food and nutrition platforms with new and novel product offerings.”
SensoryEffects will remain headquartered in St. Louis and continue to be led by Charles Nicolais and its existing senior management team.
The acquisition was financed, in part, with borrowings in the aggregate principal amount of $400,000,000 under a $450,000,000 syndicated credit facility with Bank of America, N.A. on its own behalf and as agent for certain other lenders.
