ICI buys Shaw Mudge

Published: 1-Apr-2006


ICI has agreed to buy the fragrance business of US-based Shaw Mudge & Company.

Privately-held Shaw Mudge specialises in creating, marketing and selling fragrances for consumer products, particularly in the hair care sector.

The price of the acquisition has not been disclosed, but Shaw Mudge made sales of $19m in 2005 and its gross assets have been valued at $3.6m. ICI says the acquisition is in line with its strategy to aggressively grow its Quest fragrance and flavours business. It will also shore up Quest’s position in hair care, open up new customer opportunities, as well as building on its relationship with Procter & Gamble.

On completion of the transaction, owner Grant Mudge will join Quest.

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