BASF agrees to sell Kankakee, Illinois plant to One Rock Capital Partners
BASF has entered into an agreement to sell its Kankakee, Illinois manufacturing site and its related operations of vegetable oil-based raw materials sterols and natural vitamin E, anionic surfactants and esters to a private equity firm that is an affiliate of One Rock Capital Partners, LLC in the United States.
These businesses have approximately 160 employees in the U.S., including business management and commercial staff
The transaction is expected to close in the first half of 2021, subject to the approval of the relevant competition authorities. Terms of the transaction were not disclosed.
BASF acquired the site and its business from Cognis in 2010.
It is operated by BASF's Nutrition & Health & Care Chemicals division. Based on a recent careful market assessment, it was determined that the site is no longer a strategic site for BASF.
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