This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

KIK Custom Products Acquires BioLab/Bayrol Consumer Products Business From Chemtura





CONCORD, Ontario, Jan. 2, 2014 /PRNewswire/ -- KIK Custom Products Inc. ("KIK") today announced it successfully completed its acquisition of the consumer products business of Chemtura Corporation (NYSE/EuroNext Paris: CHMT) on December 31, 2013 for an adjusted purchase price of $300 million. The $15 million reduction reflects the resolution of certain pre-closing matters by the parties. The purchase price is subject to a post-closing adjustment for working capital and assumed pension liabilities.

(Logo:  http://photos.prnewswire.com/prnh/20140102/LA39394LOGO)

The acquisition included Lawrenceville, Ga.-based BioLab's pool products businesses in North America, South Africa and Australia/ New Zealand; its European division known as Bayrol; as well as its household care business in North America and dedicated manufacturing plants in Conyers, Ga.; Lake Charles, La.; and Atlantis, South Africa. 

"This acquisition marks a major step in the strategic growth of our company," said Jeff Nodland, KIK's CEO. "We look forward to the integrated businesses generating strong free cash flow while diversifying our products and expanding our customers, channels and geographic reach."

KIK Classic Division President Stratis Katsiris added, "We are delighted to welcome BioLab and Bayrol employees to the KIK family. We are already at work building on BioLab's tradition of market leadership and product innovation. As an integrated team, we will create an efficient, service-focused business committed to offering a winning portfolio of household, pool and spa care, and pool specialty products to customers across the channels we serve. Our investment in BioLab, coming only a few short months after the announcement of our license agreement to take the iconic Clorox brand to market in pool care, underscores our continued commitment to the growth of the pool and spa category."

KIK entered the pool care business in 2011 with the acquisition of US-based Chem-Lab Products Inc., now known as KIK Pool Additives Inc.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs