Ecolab selling vehicle care unit for $120 million
ST. PAUL, Minn. (AP) — Ecolab is selling its vehicle care operations to Zep Inc. for about $120 million in cash as part of its strategy to shed non-core businesses.
The cleaning, food safety and pest-control services company said Wednesday that the division had 2011 revenue of $66 million.
Zep, based in Atlanta, makes cleaning and maintenance products and services for commercial, industrial, institutional and consumer markets.
The deal still needs regulatory clearance.
On Friday St. Paul, Minn.-based Ecolab Inc. announced that it is buying the specialty chemical company Champion Technologies in a cash-and-stock deal valued at about $2.2 billion.