Market Overview

Zep Closes Purchase of Ecolab's Vehicle Care Unit

Related ZEP
Top 4 NYSE Stocks In The Cleaning Products Industry With The Highest Dividend Yield
Will Bed Bath & Beyond (BBBY) Miss Earnings? - Analyst Blog
Related ECL
Lorillard Expands its Board - Analyst Blog
Stock Market News for March 21, 2014 - Market News

Zep Inc. (NYSE: ZEP), a leading producer and marketer of a wide range of cleaning and maintenance solutions, today announced that a wholly owned subsidiary of Zep Inc. completed the purchase of the Vehicle Care division of Ecolab Inc. (NYSE: ECL), effective December 1, 2012 for approximately $120 million.

The combination of Ecolab's Vehicle Care division with Zep's existing North American Sales and Service vehicle-wash operations and its Niagara and Washtronics fleet-wash operations creates a new platform, "Zep Vehicle Care," representing approximately 13% of Zep's net sales on a pro forma basis.

Posted-In: News M&A

 

Most Popular

Related Articles (ECL + ZEP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free