Warwick Chemicals, one of the world's key manufacturers of detergent chemicals for the laundry and home care market, has reached a definitive agreement to purchase International Detergent Chemicals Ltd. (IDC) from DUBAG Celtic Holdings. The terms of the proposed transaction were not disclosed.
IDC is based in Cork, Ireland and manufactures tetraacetylethylenediamine (TAED), a bleach activator used in laundry and household product applications. The business was acquired by Dubag in February 2011 from Henkel AG & Co KGaA, which began producing TAED for in-house use in 1984.
Commenting on the proposed transaction, Peter Bradley, Chief Executive Officer of Warwick Chemicals: "We are delighted to reach a definitive agreement to acquire IDC as it will serve to further strengthen Warwick's position as an important supplier to the detergent industry. Adding the Cork facility to our current manufacturing capabilities will allow additional supply security and flexibility for our customers and also provide the opportunity to commercialise our existing and new technologies in new markets around the world".
The proposed transaction is expected to complete in 2012, subject to review by the relevant regulatory authorities.
Deloitte Corporate Finance, Manchester and DLA Piper advised Warwick on the proposed transaction.