- Minerals Technologies (NYSE:MTX +2.9%) has entered into a definitive agreement with the shareholders of Sivomatic Holding B.V. under which MTI will purchase all of the shares of Sivomatic. Terms of the transaction were not disclosed.
- The acquisition extends MTI’s core pet care product line into Europe.
- Sivomatic has ~115 employees and generated revenue of €73M in 2017.
- “We are excited to have Sivomatic become part of MTI. This acquisition extends one of our core minerals-based product lines into Europe, which positions us well for continued profitable growth in the pet care business,” said Douglas T. Dietrich, Chief Executive Officer. “We look forward to working with Sivomatic’s management, employees and customers and bringing new innovative products to the market.”