Cosmetics & Personal Care
BASF agrees to sell Kankakee, Illinois site to One Rock Capital Partners 15th January 2021
BASF has concluded an agreement to sell its manufacturing site in Kankakee, Illinois, USA and the associated businesses of vegetable-oil-based raw material sterols and natural vitamin E, anionic surfactants and esters produced there to an affiliate of One Rock Capital Partners, LLC, a US-based private equity firm. The businesses employ about 160 people, including business management and commercial personnel, across the US. The transaction is expected to close in the first half of 2021, subject to the approval of the relevant competition authorities.
BASF acquired the Kankakee site and its businesses from Cognis in 2010 and the facility is operated by the company’s Nutrition & Health and Care Chemicals divisions. BASF says that based on a recent market review it was determined that the site was no longer a strategic fit for the company.
“With this divestment, we are sharpening the profile of our human nutrition business, to which we remain firmly committed, with focus on creating superior food ingredients and formulations that meet challenges and needs of continuously evolving lifestyles,” said Dr Melanie Maas-Brunner, President of BASF’s Nutrition & Health division.
“This is a further step to optimize the global manufacturing footprint of our division,” added Ralph Schweens, President of BASF’s Care Chemicals division. “I am glad that, with One Rock Capital Partners, we have found a promising new home for our Kankakee site and the team.”
BASF continues to produce anionic surfactants for the home care, personal care and industrial formulators industries at other sites located worldwide.