PRIVATE-LABEL BLEACH LEADER KCP BUYS AEROSOL MAKER APG GROUP

KCP Income Fund, North America’s biggest maker of privatebleach, agreed to acquire APG Group for US$73million to add more household aerosol sprays to its product line. The purchase will be financed by a sale of $80-million in units for $ 11 each to underwriters led by TD Securities Inc., Concord, Ont.-based KCP said in a statement yesterday. KCP also will use US$15-million from its line of credit. The company’s purchase of APG Group, which makes furniture-polish and air-freshener sprays, decreases KCP’s dependence on bleach and other cleaners for sales. Aerosol-product sales are rising about 15% a year, KCP chief executive David Cynamon, pictured, said on a conference call. In May, KCP acquired a CCL Industries Inc. unit that makes

products, including

deodorant and

shampoo, to increase

business with No. 1

Canadian grocery

chain Loblaw Cos.

Ltd. and Wal-Mart

Stores Inc., the

world’s biggest retailer. The acquisition of APG, based in

Elkhart, Ind., will

immediately add to

distributable cash at the income trust, said KCP, which pays out most of its cash flow to unitholders. The transaction will be completed in October, KCP said.