LAWRENCEVILLE — Chemtura, the parent company of BioLab Inc., has announced that it has entered into a stock purchase agreement to sell its global Consumer Products business to KIK Custom Products.
BioLab is a global manufacturer and marketer of pool and spa brands such as BioGuard, Aqua Chem, Bayrol, SpaGuard, OMNI, Pool Time, Spa Time and SUN.
The sale from Chemtura Corporation (NYSE/EuroNext Paris: CHMT) includes dedicated manufacturing plants in Conyers; Lake Charles, La.; and Atlantis, South Africa. The transaction is subject to customary closing conditions and regulatory approvals with a targeted close date of Dec. 31, 2013.
KIK Custom Products is one of North America’s largest contract and private label manufacturers of consumer, institutional and industrial products. KIK produces national brand and private label consumer products for Fortune 500 companies.
“This acquisition is an important step for BioLab as we drive towards our long-term vision,” said Jon Viner, president of BioLab. “Being part of a consumer oriented company like KIK allows us to focus on our strategy of bringing innovative solutions to the market and providing even greater service to our dealers and retail partners.”
“The BioLab and Bayrol businesses have a history of innovation and excellent service in the markets they serve. We are excited about this acquisition, which enhances our household cleaning portfolio and furthers our ongoing commitment to pool care,” said Stratis Katsiris, president of KIK’s Classic Division.
KIK entered the pool care business in 2011 with the acquisition of US-based Chem-Lab Products Inc., and the Kem-Tek brand.
Both KIK and BioLab are committed to a smooth transition.
“All current orders, including Early Buy, will continue to be handled in the same manner as before without any changes to terms or delivery expectations,” said Viner.
Between deal signing and transaction closing, KIK and BioLab will maintain “business as usual” as separate companies.
With over $1.2 billion in sales in 2012, and more than 3,000 employees, Toronto, Canada-based KIK's network includes14 integrated manufacturing facilities strategically located throughout North America. KIK’s product lines include bleach, household cleaners and sanitizers, pool and spa water treatment products and additives, personal care, over-the-counter medicated and pharmaceutical products, all supported by in-house technical expertise and value-added services. KIK produces national brand and private label consumer products for Fortune 500 companies. For more information about KIK, visit www.kikcorp.com.
Chemtura Corporation, with 2012 sales of $2.6 billion, is a global manufacturer and marketer of specialty chemicals, agro chemicals, and pool, spa and home care products. Additional information concerning Chemtura is available at www.chemtura.com.