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GREAT LAKES COMPLETES PURCHASE OF AQUACHEM

 WEST LAFAYETTE, Ind., May 4 /PRNewswire/ -- Great Lakes Chemical Corporation (NYSE: GLK) today announced that its wholly-owned subsidiary, Bio-Lab, Inc., has completed the acquisition of AquaChem, a leading supplier of swimming pool and spa chemicals, from Grow Group, Inc. (NYSE: GRO). The transaction, which will add approximately $50 million in additional annual revenues, became effective today. Terms include approximately $11.5 million in cash, plus closing adjustments and future considerations.
 Emerson Kampen, chairman, president and CEO of Great Lakes, stated, "AquaChem fits precisely into the company's long range growth strategies for its recreational water treatment chemicals business. Along with increasing our market share and improving manufacturing efficiencies, AquaChem brings a complete line of well-established swimming pool and spa chemicals. These products are sold exclusively and directly to mass merchants, the fastest growing sector of the pool and spa products market."
 "As a result of this and other recent actions," Kampen concluded, "Great Lakes stands at or very near the top of the world's suppliers of swimming pool and spa products. Combined with our business which serves industrial markets, revenues from the company's water treatment chemicals have more than doubled in just two years, representing approximately $400 million today."
 To facilitate the transaction, Bio-Lab has entered into a separate agreement with Grow Group to maintain administrative support of AquaChem's current accounts until the end of the pool season.
 Headquartered in Decatur, Ga., Bio-Lab is a leading formulator and packager of chemicals for swimming pools and spas with one of the largest distributor networks in the United States. The company markets its pool/spa chemicals under major brand names -- BioGuard(R), Omni(R), Hydrotech(R), Guardex(R), Pool Time(R), and Pool Seasons(TM), each targeted at different segments of the market.
 Great Lakes Chemical Corporation, a Fortune 500 company, is the world's leading producer of bromine, brominated chemicals and furfural derivatives for such applications as flame retardants, agriculture, oil and gas well completion fluids, water sanitizers and other specialty applications. The stock of the Company is traded on the New York Stock Exchange.
 -0- 5/4/93
 /CONTACT: David R. Bouchard or Gregory J. Griffith, both of Great Lakes Chemical Corporation, 317-497-6100/
 (GLK GRO)


CO: Great Lakes Chemical Corporation; Grow Group, Inc. ST: Indiana; Georgia IN: CHM SU: TNM

KL -- CL020 -- 4582 05/04/93 17:43 EDT
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Publication:PR Newswire
Date:May 4, 1993
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