Wise Partner To Exit Investment In Bath Salt Maker

Earth Chemical Co., a listed major manufacturer in home-use insecticides, announced it has reached a share transfer agreement with Wise Partners, a mid-market private equity firm, to acquire a 80% share of Bathclin Corp., one of the major bath salt makers, for about 15 billion yen in order to increase its market share. Earth Chemicals, belonging to Otsuka Pharmaceutical Group, is also a major player in the bath salt market. Bathclin was divested from Tsumura Group, a Kanpo-based medicine manufacturer, with Wise Partners in August 2008.