Novacap, other investors finance KDC's buy of Northern Labs

Knowlton Development Corp (KDC) has acquired Northern Labs Inc, a Manitowoc, Wisconsin-based full-service liquid product contract manufacturer. No financial terms were disclosed for the deal, which was financed by Canadian private equity firm Novacap, KDC's majority owner, as well as Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, IQ, Export Development Canada, Fondaction CSN and others. KDC, a Longueuil, Québec-based maker of health and beauty products, said the acquisition will enhance its speciality household division, which was created last month with the company's buy of Strategic Value Partners' Aromair unit.

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