Update (4:05 p.m.): Updated with all-time high price and Thursday market close information.
NEW YORK (TheStreet) -- Balchem (BCPC - Get Report) soared to an all-time high of $65.89 on Tuesday after the company, which provides ethylene oxide to medical device manufacturers, announced its acquisition of SensoryEffects, a privately held supplier of customized food and beverage ingredient systems for $567 million in cash.
Balchem said in a statement it expects the acquisition to be immediately accretive to its earnings per share. The transaction should close within the next 40 days.
SensoryEffects expects revenue of approximately $260 million and adjusted EBIDTA of approximately $53 million in 2014.More than 850,000 shares changed hands on Tuesday, up from the average volume of 118,180. The stock hit a low of $56.15 for the day and holds a one-year low of $41. Must Read: Warren Buffett's 10 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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