FONT-SIZE Plus   Neg

KIK Custom Acquires Chemtura's BioLab/Bayrol Consumer Products Business

KIK Custom Products Inc. said Thursday it completed its acquisition of the consumer products business of Chemtura Corp. (CHMT) for an adjusted purchase price of $300 million.

The company said the deal had a $15 million reduction to reflect the resolution of certain pre-closing matters by the parties. The company also said the purchase price is subject to a post-closing adjustment for working capital and assumed pension liabilities.

"This acquisition marks a major step in the strategic growth of our company," said Jeff Nodland, KIK's CEO.

Toronto, Canada-based KIK is one of North America's largest contract and private label manufacturers of consumer, institutional and industrial products. KIK entered the pool care business in 2011 with the acquisition of US-based Chem-Lab Products Inc.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Chipmaker Qualcomm is reportedly in talks with NXP Semiconductor NV (NXPI) for a possible acquisition, reports said. According to Bloomberg, negotiations are on with a probable price of $110 t $120 per NXP share. The deal would value NXP at around $34.7 billion. Regulators have confirmed the eleventh U.S. fatality linked to Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration or NHTSA said Thursday that a crash fatality in Riverside County, California, was tied to the rupture of a recalled Takata air bag inflator. Reynolds American Inc. (RAI) on Friday confirmed that British American Tobacco plc (BATS.L, BTI) has offered to buy the remaining 57.8 percent stake that it does not own in the US tobacco company for $47 billion. Reynolds said its board of directors will evaluate the offer, and respond accordingly to BAT, which currently owns 42.2 percent stake in Reynolds. The proposal represents an enterprise va
comments powered by Disqus
Follow RTT