Ashland to buy Pharmachem Labs for $660M

|About: Ashland Inc. (ASH)|By:, SA News Editor

Ashland (NYSE:ASH) agrees to acquire Pharmachem Laboratories, a provider of ingredients to global health and wellness industries and products to fragrance and flavor houses, for $660M.

ASH expects the deal to strengthen its position in the fast-growing nutraceutical end market while advancing its processing know-how and formulation expertise.

Pharmachem's annual revenue totals ~$300M, and the company maintains 14 manufacturing facilities in the U.S. and Mexico.