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
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
