Ashland acquires ingredients maker Pharmachem Laboratories for $ 660 mn

In an all-cash transaction, specialty chemicals company Ashland Global Holdings Inc has agreed to acquire privately owned Pharmachem Laboratories Inc, the US-based provider of ingredients to the global health and wellness industries and high-value differentiated products to fragrance and flavour houses, for $ 660 million. While Pharmachem is one of the leading suppliers to $ 39 billion vitamin and dietary supplement market, it operates one of the largest custom extraction facilities for natural ingredients in North America.

With annual revenues of approximately $ 300 million and 14 manufacturing facilities in the US and Mexico, New Jersey-based Pharmachem develops, manufactures and supplies