Specialty chemicals player LANXESS announced plans Monday to acquire Theseo Group, a France-based supplier of animal hygiene and disinfection products, expanding its global Consumer Protection business.
Theseo currently operates manufacturing assets in Europe and Latin America. Products made by the company are used in livestock operations to prevent and control diseases.
“Subject to completion of the transaction, LANXESS will significantly expand its range of products for the growth market animal hygiene and will in [the] future also be able to offer products for the animal nutrition industry,” LANXESS said in its release.
The company said it will finance the €70 million (about $85 million) deal with cash. Antitrust regulators must clear the transaction before it can proceed. LANXESS said it expects the approvals process and transaction will be concluded in mid-2021.
“We are focusing on profitable specialty chemicals and here consumer protection products play an important role,” Matthias Zachert, chairman of the Board of Management for LANXESS AG, said in a statement.
Powder & Bulk Solids reported in December that LANXESS completed a debottlenecking project at its production facility in Krefeld-Uerdingen, Germany to increase the site’s capacity for black synthetic iron oxide pigments.