“For KIK, the KPC divestiture is a logical next step in the transformation we began in early 2019,” KIK Chief Executive Officer Jared Knudson said in a statement. “We see tremendous opportunities to leverage the common elements of our Household, Pool, and Automotive businesses and focus on our core competencies as a pure-play consumer products business. We believe this change capitalizes and builds on KIK’s strong momentum as we move into the second half of 2020 and beyond.”
The business manufactures and formulates personal care, prestige beauty, over-the-counter, and household products for use by the consumer product companies. KPC also is a major supplier of personal care products for guests in North American hotels.
“This transaction is a very positive development for the KPC business,” Knudson said. “The combination with Voyant Beauty will allow KPC to be part of an organization that is focused entirely on the same industry. The two businesses are highly complementary, and merging will enable a broader customer offering, enhanced innovation capabilities, and an extensive manufacturing network.”
Voyant’s acquisition of KPC will close after approvals are secured and customary closing conditions are met.