Ashland acquires ingredients maker Pharmachem Laboratories for $ 660 mn

“The acquisition of Pharmachem offers a number of exciting growth opportunities in higher-margin end markets while also strengthening our specialty product line. This combination will enhance our position in fast-growing nutraceutical end markets, open a new opportunity within fragrances and flavours, and strengthen Ashland's food ingredient business by adding customised functional solutions. In combining Pharmachem and Ashland, we can leverage our extensive sales channels, technical service network and global applications labs to accelerate Pharmachem's growth,” commented William Wulfsohn, chairman and chief executive officer, Ashland.

Ashland anticipates achieving meaningful cost synergies from leveraging combined capabilities, as well as tax synergies driven by the integration of Pharmachem into Ashland's global business structure.