Arnold & Porter Kaye Scholer Advises Pharmachem on Sale to Ashland
Arnold & Porter Kaye Scholer advised Pharmachem Laboratories (Pharmachem), a leading provider of quality ingredients to the global health and wellness industries and high-value differentiated products to fragrance and flavor houses, on its sale to Ashland, a global leader in providing specialty chemical solutions to customers in a wide range of consumer and industrial markets. The combination of Pharmachem's custom manufacturing capabilities with Ashland's formulation and excipients expertise will drive the next phase of Pharmachem's growth while enhancing Ashland's specialty product line.Under terms of the stock purchase agreement, Ashland will pay $660 million in an all-cash transaction that is expected to be completed before the end of the June quarter and subject to customary closing conditions and required regulatory approvals. The acquisition will be funded with bank financing and available cash.
The Arnold & Porter Kaye Scholer client team was led by partner Derek Stoldt and included John Geelan and Aaron Gardner.