VVF. Ltd. (Mumbai, India) has announced its acquisition of Teo Corp. The physical assets of Teo Corp. (Milton, Ontario) were purchased by VVF Ltd., a manufacturer of soaps, oleochemicals and personal care products, after Teo declared bankruptcy in late 2006. Teo Corp. will be operated by VVF as a wholly-owned subsidiary. VVF Ltd. will now have the capability to produce a range of underarm, deodorant and antiperspirant sticks as well as pain relief sticks. VVF reportedly will use the plant to expand its product line offering in North America and to further build its position in the growing private label market for personal care products. The acquisition will also support the geographic expansion of VVF's contract manufacturing business.
The acquisitions, according to VVF, will complement an earlier acquisition of Colgate's Kansas City plant, which was made to enable VVF to produce bar soaps and liquid home and personal care products. The new plant will be part of VVF's North American operations. It will be headed by Kurussh Amrolia and managed by Kenneth Capponi.