Kemira acquires Dutch Verdugt
8 Feb 2005
Kemira Oyj is to acquire the Dutch specialty chemicals company Verdugt from the international private equity firm CVC Capital Partners in a deal worth approximately 148 million Euros.
Verdugt is the world's largest manufacturer of organic salts and organic acid blends, principally acetates, propionates, formates and lactates, that find a wide range of applications from food, agricultural, pharmaceutical and industrial applications.
The company has two production facilities in Tiel in the Netherlands and in Barcelona in Spain, employs 130 people and has net sales of 110 million Euros per year.
CVC has not held onto Verdugt for long. It was only last February that Castle Harlan, a New York private-equity investment firm, sold it to the company.
Castle Harlan, Verdugt's largest shareholder, had acquired the company in February 1999 along with Wachovia Capital Partners, Demetree Investment Group, the principals of US Salt Holdings, CVC and company management.
