Following completion of a court-supervised sale process, Capitol Peak Partners, a middle-market private equity firm focused on consumer businesses in North America, and its affiliates will be acquiring substantially all Borden assets and assuming majority ownership of the company. KKR, an existing lender to Borden, will be a minority investor. Following the transaction, Borden will be appropriately capitalized, and the business will remain intact, including all plants, branches, routes, and the Borden brand. The newly reorganized Borden will continue employment for approximately 3,300 Borden employees and service for Borden customers.
Subject to certain closing conditions, the transaction is expected to be finalized in mid-July.