8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 27, 2003

Commission File Number 333-82700

Compass Minerals Group, Inc.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization) 48-1135403
(I.R.S. Employer
Identification Number)

8300 College Blvd.
Overland Park, KS 66210
(913) 344-9200
(Address of principal executive offices and telephone number)

N/A
(Former name or former address, if changed since last report)

Item 5. OTHER EVENTS.

        On June 23, 2003, Salt Holdings Corporation (“SHC”), the parent of Compass Minerals Group, Inc. (“CMG”), purchased most of IMC Global Inc.‘s (“IMC’s”) minority shareholder interest in SHC and IMC’s remaining sulfate of potash (“SOP”) business in two transactions for approximately $60.5 million.

        As a result of the first transaction, IMC now holds approximately 5% of SHC’s common stock, down from its original 19.9% ownership. Additionally, SHC purchased all of its preferred stock and related notes owned by IMC. In the second transaction, SHC purchased IMC’s SOP marketing business and its Carlsbad, New Mexico SOP product line.

        The press release issued by CMG on June 25, 2003 announcing the transactions is filed herewith as Exhibit 99.1 and is incorporated herein in its entirety by reference.

Item 7. EXHIBITS.

        The following exhibit is filed as part of this Current Report:

Exhibit Number	Description of Exhibits
99.1	Press Release

SIGNATURES

        Pursuant to the requirements of Section 13 or 15(d) of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	COMPASS MINERALS GROUP, INC.
Date: June 27, 2003	/s/ Rodney Underdown ——————————
	Rodney Underdown Chief Financial Officer

EX-99

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact: Rodney L. Underdown
Chief Financial Officer
913-344-9200

Salt Holdings Buys Most of its Minority Shareholder Interest along with a Sulfate of Potash Business from IMC

OVERLAND PARK, KS, June 25, 2003 – Salt Holdings Corporation announced its purchase on Monday, June 23^rd of most of IMC Global Inc.‘s minority shareholder interest in Salt Holdings and IMC’s remaining sulfate of potash (SOP) business in two transactions for approximately $60.5 million. Salt Holdings used cash on hand to fund the transactions.

As a result of the first transaction, IMC now holds approximately 5% of Salt Holdings’ common stock, down from its original 19.9% ownership. Additionally, Salt Holdings purchased all of its preferred stock and related notes owned by IMC. In the second transaction, Salt Holdings purchased IMC’s SOP marketing business and its Carlsbad, New Mexico SOP product line.

“These transactions will strengthen our SOP focus and provide us the opportunity to repurchase our common stock at a fair price,” said Michael E. Ducey, President and Chief Executive Officer of Salt Holdings Corporation.

Compass Minerals Group, a wholly owned subsidiary of Salt Holdings Corporation, is the second largest North American producer of salt, the largest producer of salt in the United Kingdom and a leading global producer of sulfate of potash, a specialty fertilizer. Compass Minerals Group is approximately 95% owned by Apollo Management LP and Company management, with the remainder owned by IMC Global Inc.

Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations and involve risks and uncertainties that could cause the Company’s actual results to differ materially from those set forth in the statements. The Company can give no assurance that such expectations will prove to be correct. Factors that could cause the Company’s results to differ materially from current expectations include: general economic and business conditions, industry trends, weather, raw material costs and availability, changes in demand for its products, actions of its competitors and the additional factors and risks contained in the Company’s annual report on Form 10-K for the year-ended December 31, 2002.

ENDIT