Knowlton Development plans new debt financing for Zobele purchase

By Sara Rosenberg

New York, Feb. 19 – Knowlton Development Corp. (KDC/ONE) has received a commitment for incremental financing that is expected to contain a mix of U.S. dollars and euros to help fund its acquisition of Zobele Group, according to a market source.

UBS Investment Bank and Jefferies LLC are the joint lead arrangers on the deal.

Other funds for the transaction will come from a significant equity reinvestment from Cornell Capital and Caisse de depot et placement du Quebec, as well as from the other existing investors.

Closing is expected later this year, subject to customary conditions.

Knowlton Development is a Longueuil, Quebec-based manufacturer and custom formulator of beauty, personal care and household products. Zobele is an Italy-based manufacturer of home and air care products.

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