Blackstone, BC Partners Help Former E-Commerce Sensation Buy a Salt Producer

ContextLogic Inc. acquired US Salt, a provider of evaporated salt products, in a transaction totaling nearly $1 billion, according to a press release on Monday.

The former e-commerce firm bought the company from Emerald Lake Capital Management, valuing the business at $907.5 million. The deal was financed with cash, including a preferred equity investment of $150 million by BC Partners, as well as debt provided by Blackstone.