THE WHAT? BASF has announced that it has concluded the sale of its manufacturing site in Kankakee, Illinois to an affiliate of One Rock Capital Partners. Terms of the deal were not disclosed.
THE DETAILS The agreement includes the associated businesses of vegetable oil-based raw materials sterols and natural vitamin E, anionic surfactants and esters produced at the site.
The new company will be branded as Kensing and take on some 190 employees.
“In working closely with our Operating Partners and BASF, we have been impressed by the talented team in Kankakee and are eager to build on the company’s well-deserved reputation for high-purity manufacturing and customer service under the Kensing brand,” said Tony W. Lee, Managing Partner of One Rock Capital Partners.
THE WHY? Ralph Schweens, President of BASF’s Care Chemicals division, explains, “With this step, we optimize the global manufacturing footprint of our division. At the same time, we remain fully committed to the industries we serve and continue to produce anionic surfactants for the home care, personal care and industrial formulators market at our other sites worldwide.”