Ecolab To Purchase Biocide Firm

D Ecolab Inc. will acquire Alcide Corp., a Redmond, WA-based producer of biocidal and sanitation products that are primarily used in the dairy, meat and poultry industries. It had worldwide sales of approximately $22 million in calendar 2003.

The agreement calls for a tax-free exchange in which Alcide shareholders will receive $21 per share to be paid in Ecolab shares based on a formula of Ecolab’s closing price prior to the effective date of the merger. Alcide had 2.7 million shares outstanding on November 30, 2003. The agreement has been approved by both boards, and is subject to the approval of Alcide’s shareholders and other customary closing conditions, including regulatory approvals. Materials will be mailed to Alcide shareholders after required filings have been made with the Securities and Exchange Commission.

“Alcide offers Ecolab proven and valuable technology that will provide a great addition to our product offering to our food and beverage customers,” said Allan L. Schuman, Ecolab’s chairman and chief executive officer. “With their worldwide patents and Ecolab’s excellent global coverage, we are in a unique position to aggressively expedite the commercialization of Alcide’s technology and grow their business in a more rapid fashion.”