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Ecolab to Sell Vehicle Care Division to Zep

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Ecolab (NYSE: ECL) announced it has agreed to sell its Vehicle Care division to
Zep (NYSE: ZEP) for approximately $120 million in cash. Zep is an
Atlanta, GA based manufacturer and marketer of cleaning and maintenance
solutions for commercial, industrial, institutional and consumer
end-markets. Vehicle Care had 2011 sales of $66 million. Completion of
the transaction is subject to regulatory clearance and other standard
closing conditions. No further details were disclosed.

Douglas M. Baker, Jr., Ecolab's Chairman and Chief Executive Officer
commented on the announcement, saying, “This sale enables us to sharpen
our strategic focus on our core business areas while assuring Vehicle
Care customers will receive excellent ongoing product and service
support from a

See full press release

Posted-In: News Guidance Asset Sales Management M&A Global

 

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