ICV Partners (ICV) announced today that it has completed the sale of Stauber Performance Ingredients, a leading distributor of nutraceutical ingredients, to Hawkins, Inc. (Nasdaq: HWKN), for $157m.
Founded in 1969, Stauber offers specialty products and ingredients to the nutritional, food, pharmaceutical, cosmetic and pet care industries with approximately 160 employees, and facilities in California and New York.
Ira Moreland, Managing Director of ICV Partners, said, "Since we acquired Stauber in January 2011 we have worked closely with the management team, led by CEO Dan Stauber, to expand the company's product offering and develop manufacturing capabilities. Together we have significantly grown the company on multiple levels and believe Hawkins is the right buyer to continue Stauber's growth and expand the company's processing capabilities. We implemented a number of initiatives over the past few years and executed a significant add-on acquisition that enabled Stauber to grow to where it is today and we are pleased with the successful outcome of this investment."
Dan Stauber, Chief Executive Officer of Stauber, said, "Several years ago, while exploring my options for this company founded by my father, I was attracted to ICV because of their long history of successfully partnering with founder-owned companies. Their depth of knowledge in growing smaller companies helped tremendously and we are all very pleased with our accomplishments in almost five years. I am thrilled Stauber will now be part of the Hawkins family and believe the company is in right hands to successfully flourish in this next phase."
Qian Elmore, Principal of ICV, added, "We would like to thank the Stauber team for their strong leadership of the company over the last five years. Stauber will enjoy a bright future under Hawkins' ownership given the company's position as a leading distributor of nutraceutical ingredients to a number of growing industries and offering the highest level of product and service to drive value for its customers."
