Chemicals producer Hawkins Inc. (Nasdaq: HWKN) is buying Stauber Performance Ingredients from ICV Partners for $157 million in cash.

Stauber, based in Fullerton, Californina, distributes ingredients to the food, pharmaceutical, cosmetic, and pet care sectors. The target has about $117 million in revenue. Hawkins will fund the purchase with cash and debt. ICV acquired the target in 2011.

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