ST. LOUIS — ICL Performance Products has agreed to sell its Germany-based Pharma, Cosmetics and Gypsum (PCG) businesses to an affiliate of One Rock Capital Partners, a New York-based private equity company, ICL said May 27. The sale of the business units is part of ICL’s “Next Step Forward” strategy to divest its non-core businesses to focus on its core businesses in the agriculture, food and engineered materials markets.

“ICL PP intends to use the proceeds from the sale of our PCG businesses to strengthen our core businesses in the food and engineered markets, and to expand our global presence, especially in emerging markets,” said Mark Volmer, president and chief executive officer of ICL Performance Products, which has a U.S. headquarters in St. Louis.