Croda International has acquired the assets of Innovachem for 2.8m dollars, the UK chemicals company announced Monday.
The FTSE 100 company said the deal for the manufacturer and distributor of organic chemicals and chiral cobalt would enhance its offering.
"The acquisition is an excellent strategic fit for Croda's Personal Care business, adding a number of exciting new product lines and technologies to its existing portfolio and enhancing its ability to service customers around the world," Croda said in a statement.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Innovachem, based in Cutchogue New York, reported a turnover of $1.5m in 2012 from its portfolio of patented personal care products.
Croda's shares were down 0.17% at 14:13 Monday.
RD
-
‘I installed a heat pump in my home – here are five things I’ve learnt’From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
'Nationalisation is not the answer'Opinion Labour's enthusiasm for nationalising steel was met with approval across the spectrum. Political consensus is a sign that thinking has been abandoned, says Max King
