October 6, 2021 — St. Louis-based Champion Salt has completed two separate transactions and sold their operational assets on the East Coast and in the Midwest. Eastern Salt Company, Inc. will assume the lease on the Providence, RI property and its associated bulk salt business. Skyline Salt Solutions has purchased the Chicago, St. Paul, Dubuque, and Camanche bulk salt business.
Champion Salt will retain its headquarters in St. Louis as well as all rights to its name, trademarks, and intellectual property.
Champion Salt has served hundreds of contractors, municipalities, and distributors (including several state departments of transportation) from eight different locations. Specific terms of the all-cash deals were not disclosed, but Champion CEO Gary Perlmuter describes both transactions as a “win-win” for all parties involved. “It’s a testament to the business that we built at Champion. We were able to grow the company from scratch to sell and distribute millions of tons of salt in just five years, and the new owners benefit from these strategic assets,” added Perlmuter.
The Champion distribution network grew to include salt from Chile, Brazil, Egypt, and Turkey. “They were both great deals, and we had two strategic buyers that understood the value of what we have built,” said Carl Bolm, Champion’s Chairman of the Board. “They realized our demographic and geographic advantages and the client base we had developed. They wanted what Champion Salt created.”
Champion Salt will also retain distribution rights in Missouri and Southern Illinois. “We have created great products and service at Champion, and we have tremendous knowledge, resources, and experience in the salt industry,” shared Perlmuter. “We have sourced salt from around the world, and we have the contacts, the know-how, and the supply sources. We anticipate a concierge salt operation moving forward, consulting with organizations that will benefit from our expertise.”
