KIK Custom Products said it would be buying the consumer products unit of Chemtura Corp in a cash deal worth USD 315 million. The transaction would be carried out through a stock purchase agreement. The acquisition is expected to be completed on December 31 this year. The consumer products business is known in North America as BioLab and in Europe as Bayrol.

KIK is a Toronto, Canada-based contract and a private label manufacturer of consumer, institutional and industrial products. Its products include household cleaners, bleach, pool and spa water treatment products and additives, and over-the-counter medicated and pharmaceutical products. It is a portfolio firm of private equity company CI Capital Partners.

KIK Chief Executive Officer Jeff Nodland said, "This acquisition will be an important step in the next-stage growth of our company. We expect it to contribute to generating strong free cash flow while diversifying our product portfolio and expanding our customers and channels."