RESEARCH TRIANGLE PARK, N.C. - Reichhold's executive management team, led by President and CEO John S. Gaither, has reached an agreement with Dainippon Ink and Chemicals, Inc., (DIC) for a management buyout. Reichhold has been the wholly owned subsidiary of DIC since 1987. The agreement was signed on September 12, 2005, with plans to close on September 30, 2005.
DIC had planned a restructuring of the company and concluded that the sale of all shares of Reichhold to the existing management team was in the best interest of both firms.