Stone Canyon Required to Divest US Salt to Buy Morton Salt: DOJ

Stone Canyon Industry Holdings and SCIH Salt Holdings agreed to divest their US Salt subsidiary, including their refinery in Watkins Glen, N.Y., as well as other all other assets used in the production of its evaporated salt products, to win approval of the acquisition of Morton Salt, the U.S. Justice Department said.

• Without the divestiture, the proposed acquisition would substantially lessen competition in the sale of several types of evaporated salt, according to the DOJ
• US Salt is the largest supplier of private-label round-can table salt in the U.S., with Morton and US Salt the only firms producing pharmaceutical-grade salt ...