03 January 2014 15:02 [Source: ICIS news]
HOUSTON (ICIS)--The $300m (€219m) acquisition of Chemtura’s consumer products business marks a major growth driver for ?xml:namespace>
KIK and US specialty chemicals firm Chemtura completed the deal on 31 December.
“This acquisition marks a major step in the strategic growth of our company,” said KIK CEO Jeff Nodland.
With the acquisition, KIK will create a portfolio of household, pool and spa care, and pool specialty products, he added.
The deal includes Chemtura’s US-based BioLab’s pool products businesses in North America,
KIK entered the pool care business in 2011 with the acquisition of US-based Chem-Lab Products.
KIK’s product lines include bleach, household cleaners and sanitizers, pool and spa water treatment and pool specialty products, as well as personal care, over-the-counter medicated and pharmaceutical products.
The Toronto-based company has annual sales of more than $1.6bn and employs a staff of 3,600 worldwide.
($1 = €0.73)
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