Compass Minerals has acquired the outstanding 55% interest in Fortress North America (Fortress), a next-generation fire retardant company.

This transaction builds upon a previous 45% minority ownership stake that Compass Minerals has held in Fortress since January 2022 and provides Compass Minerals full ownership of all Fortress assets, contracts and intellectual property.

“The value creation possible through the full integration of Fortress’ patented portfolio of next-gen fire retardant formulations with our extensive logistics and production capabilities made this acquisition a priority for our company,” said Kevin S. Crutchfield, president and CEO. “With the recent milestones attained by Fortress, our confidence in its earnings potential is bolstered as we gain a share of the next-gen fire retardant market, a counter-seasonal opportunity and sizeable addressable market that is now open to us. We are pleased to welcome the Fortress team into the Compass Minerals family.”

The next-gen fire retardant business will retain the Fortress branding and will continue to be led by the leadership team at Fortress, including CEO Robert Burnham.

For additional information, read the news release here.