On June 18, 2024, Recochem, a leader in automotive liquid solutions, acquired KIK Consumer Products' Auto Care business, which includes Prestone in North America and Holts in the UK. The acquisition aimed to create a global automotive solutions group with significant economies of scale. Recochem, Prestone, and Holts will now collectively offer a wide range of automotive products, enhancing their market presence and customer reach.

The CEO of Recochem, Shawn Davies, highlighted the strategic fit of the businesses and the potential for growth and expanded customer solutions. For KIK, the sale allowed a focused approach on its growing Household Care and Pool Care segments. KIK’s CEO, Michael Sload, noted the strong prospects for the Auto Care business under Recochem's ownership.

The transaction value was not disclosed. Recochem received financial advice from Harris Williams and legal counsel from Wilkie Farr & Gallagher LLP, Arnold & Porter LLP, and Kirkland & Ellis LLP. KIK was advised by CG Sawaya Partners and legal advisors Weil, Gotshal & Manges LLP, and Blake, Cassels & Graydon LLP.