PRINCETON, N.J. (AP) -- Chemical maker Rockwood Holdings Inc. said Monday it will sell its pool and spa chemicals business to Arch Chemicals Inc. for $130 million in cash.
The business, called Advantis, makes and markets swimming pool, spa and surface water treatment chemicals. The business had sales of about $71 million in 2007.
Rockwood said the sale is in line with its strategy of divesting non-core businesses.
The deal is expected to close early in the fourth quarter.
Arch said the deal will be financed by its revolving credit facility and will add to its cash and profit in the first year.
Norwalk, Conn.-based Arch added it expects to realize synergies of about $6 million a year from integrating the business with its own water products business.