M&A Deal Summary

Wish Acquires US Salt

On December 8, 2025, Wish acquired manufacturer US Salt from Emerald Lake Capital Management for 908M USD

Acquisition Highlights
  • This is Wish’s 1st transaction in the Manufacturing sector.
  • This is Wish’s largest (disclosed) transaction.
  • This is Wish’s 2nd transaction in the United States.
  • This is Wish’s 2nd transaction in New York.

M&A Deal Summary

Date 2025-12-08
Target US Salt
Sector Manufacturing
Buyer(s) Wish
Sellers(s) Emerald Lake Capital Management
Deal Type Add-on Acquisition
Deal Value 908M USD
Advisor(s) Kirkland & Ellis (Legal)

Target

US Salt

Watkins Glen, New York, United States
US Salt is a salt-production and distribution company that produces a wide range of evaporated salt products for food, industrial, pharmaceutical, textile, water-treatment, and other applications. US Salt is based in Watkins Glen, New York.

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Buyer(S) 1

Buyer

Wish

San Francisco, California, United States

Category Company
Founded 2010
Sector Internet Software and Services
Employees8
Revenue 43M USD (2024)
DESCRIPTION

Wish is an online marketplace that makes it convenient for underserved populations to purchase affordable goods. Wish was formed in 2010 and is based in San Francisco, California.


DEAL STATS #
Overall 2 of 2
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: New York M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-14 Locket

New York, New York, United States

Locket, Inc. is an intelligent personalization platform that brings breaking news and other content to smartphone lock screens.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Emerald Lake Capital Management is a private equity firm focused on businesses with growth potential. The Firm invests in a variety of industries including consumer products, business services, distribution, and manufacturing, and supports a range of investment situations. Emerald Lake Capital was founded in 2018 and is headquartered in Los Angeles, California.


DEAL STATS #
Overall 2 of 2
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: New York M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2025 M&A 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-12 Inno-Pak

Delaware, Ohio, United States

Inno-Pak provides food packaging for the food service, grocery, convenience store, and hospitality industries. Inno-Pak has a broad range of more than 100 patented products across multiple substrates, supported by robust manufacturing capabilities which include sheeting/printing, die cutting, windowing, gluing, and forming and design services. Inno-Pak was founded in 1992 and is based in Delaware, Ohio.

Sell -