Lubrizol (BRK-A) to Acquire Warwick Chemicals
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Berkshire Hathaway's (NYSE: BRK-A) Lubrizol Corporation announces it has signed an agreement to purchase Warwick Chemicals, a leading global developer, producer and supplier of stain removal technology with hygiene benefits. This acquisition will complement Lubrizol's existing home care product line, strengthening its strategy of providing high-value technology solutions to its global customers.
Headquartered in Mostyn, North Wales, Warwick Chemicals has strong positions with global and regional detergent producers. Their products are an essential element in laundry detergent powders and automatic dishwashing products used across five continents and in more than 50 countries. The transaction also includes Warwick Equest, a leading manufacturer of test swatches for fabric cleaning.
"Consistent with our long-term strategy and vision, we are always seeking to expand our portfolio with technologies that provide solutions, add value to our customer's products and deliver consumer benefits," said Rick Tolin, vice president and general manager of Lubrizol Personal and Home Care. "The acquisition of Warwick will complement Lubrizol's strong portfolio of rheology modifiers, functional polymers and surfactants, and will place us in an excellent position to offer integrated solutions to our customers."
Upon completion of the transaction, Warwick Chemicals will retain its company name and will become part of Lubrizol Advanced Materials, reporting into Lubrizol's personal and home care business. This transaction includes all intellectual property, trademarks and customer lists of Warwick Chemicals.
Financial terms of the agreement were not disclosed. The transaction is expected to close upon receipt of all customary regulatory approvals.
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