Home / Knowledge / News / Textiles / OrganoClick to acquire chemical firm Biokleen
OrganoClick to acquire chemical firm Biokleen
14
Nov '16
OrganoClick AB, a Swedish company that develops functional materials based on environmentally friendly fibre chemistry, has entered into an agreement to acquire all shares in the Sweden-based Biokleen Miljökemi AB, a chemical technology firm that focuses on eco-labelled cleaning and maintenance products for wood, home, house, and car care.

The acquisition is part of OrganoClick's growth strategy and adds to the existing product portfolio another strong brand as well as a sales force for Swedish paint dealers.

The total price OrganoClick paid for Biokleen Miljökemi AB is SEK 16 million. The payment is proposed to be made by SEK 4.75 million in form of 823 224 shares in OrganoClick at a share price of 5.77 SEK / share and SEK 11.25 million in cash. The share price is calculated as an average share price during the period September 26 to October 26, 2016, with a discount of about 5 per cent. The final agreement was signed on 10 November, 2016. The cash will be financed through a combination of loans and a proposed directed emission of shares. The acquisition is expected to be completed in December 2016.

Biokleen Miljökemi products are used for washing off mould, algae, and dirt from facades, roofs and wooden decks. This is a great addition to OrganoClicks' existing wood treatment products. A number of Biokleen products are eco-labelled with the Swedish Swan and the product for algae and mould cleaning has been named “Best in Test” by the Folksam Test for mould cleaning products.

The agreement is conditioned upon that the extraordinary general meeting of OrganoClick resolves a share issue as part of the payment for Biokleen Miljökemi AB. The acquisition is thus expected to be completed in December 2016, after the decision is made to issue the shares by the OrganoClick extraordinary general meeting.

The acquisition also provides a substantial contribution of sales, cash flow, and profit for OrganoClick. (GK)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Urmil Arya

Sushila International, a well established textile organisation established ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search