NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
No Result
View All Result
Home ALL Chemical

Ashland completes acquisition of personal care business of Schülke & Mayr GmbH, a portfolio company of EQT

by Ed Johnson
May 1, 2021
A A

WILMINGTON, Del., April 30, 2021 (GLOBE NEWSWIRE) — Ashland Global Holdings Inc. (NYSE: ASH) today announced that it has completed the acquisition of the personal care business from Schülke & Mayr GmbH, a portfolio company of the global investment organization EQT.

Under the terms of the agreement, Ashland agreed to a purchase price of €262.5 million in an all-cash transaction funded with bank financing and available cash, subject to customary purchase price adjustments. Ashland expects the acquisition to become immediately accretive to Ashland’s earnings per share.

The completion of the acquisition strengthens Ashland’s consumer business portfolio and enhances the company’s specialty additives position while expanding the company’s biotechnology and microbiology technical competencies. The move also advances Ashland’s environmental, social and governance (ESG) agenda by further aligning the company’s personal care and household portfolio with the ‘clean beauty’ trend and new generation of consumers seeking products with milder ingredients.  

“I am excited to welcome the Schülke and Mayr personal care employees to Ashland. They will help broaden our specialty additives solutions and expand our biotechnology and microbiology technical capabilities,” said Guillermo Novo, chairman and chief executive officer, Ashland. “We will continue driving our strategy and focusing on bolt-on acquisitions that create new sustainable solutions in broader fields of application to deliver value to our customers.”

“Completing this acquisition supports our strategy to strengthen the profitable growth of our personal care and household business unit,” said Xiaolan Wang, senior vice president and general manager, personal care and household, Ashland. “It is my pleasure to welcome our new solvers to Ashland who will further help our customers’ brands differentiate and grow in a constantly changing market space.”

Citi is acting as financial advisor to Ashland, and Squire Patton Boggs LLP is acting as legal advisor.

Tags: < Invest | M&A
ShareTweetShareSend

Related Industries

Chemical

BASF breaks ground on MDI capacity expansion project at Geismar site

January 12, 2023
Dow named one of America’s most JUST Companies for the fourth year by JUST Capital
Chemical

Dow named one of America’s most JUST Companies for the fourth year by JUST Capital

January 11, 2023
Chemical

Celanese Recognized By Newsweek as one of America’s Most Responsible Companies

December 20, 2022
Chemical

3M’s school zone safety transformations making progress toward pedestrian visibility and road safety

December 16, 2022
Chemical

The Science of Speed: Dow and USA Luge renew long-standing partnership

December 15, 2022
Chemical

Dow further commits to automotive innovation with launch of selective adhesion liquid silicone rubber series

December 9, 2022

BASF breaks ground on MDI capacity expansion project at Geismar site

January 12, 2023

...

PriceSmart Announces Joint Technology Platform Project with Toshiba Global Commerce Solutions

January 17, 2023

...

Microsoft and Qcells announce strategic alliance to curb carbon emissions and power the clean energy economy

January 26, 2023

...

Pfizer Expands ‘An Accord for a Healthier World’ Product Offering to Include Full Portfolio for Greater Benefit to 1.2 Billion People in 45 Lower-Income Countries

January 18, 2023

...

Honeywell Identifies Top Building Technology Trends For 2023

January 11, 2023

...

Michelle Quinn Named Acting General Counsel for BD

January 7, 2023

...

Baxter Announces Strategic Actions to Enhance Operational Effectiveness, Accelerate Innovation for Patients and Drive Value for Shareholders

January 7, 2023

...

Medtronic recommends rejection of below-market mini-tender offer by TRC Capital Investment Corporation

January 26, 2023

...

Hyundai Motor America Reports Record-Breaking January 2023 Sales

February 2, 2023

...

NORTH AMERICAN BUSINESS (www.na-biz.com) is a leading source of business and corporate news, information, industry trends, market updates and insights across a broad spectrum of industries in North America and worldwide.

INDUSTRIES

  • Aero
  • Agriculture
  • ALL
  • Automotive
  • Business Service
  • Chemical
  • Construction
  • Construction Materials
  • Consumer
  • Education
  • Energy
  • Entertainment
  • Environmental
  • F&B
  • Financial
  • Healthcare
  • Hospitality
  • Industrial
  • IT
  • IT Hardware
  • Logistic
  • Metal & Mining
  • Packaging & Paper
  • Rail
  • Real Estate
  • Telecom

CONTACT US

EDITORIAL:     editor#na-biz.com

PARTNERSHIP:     biz#na-biz.com

HUMAN RESOURCE:     hr#na-biz.com

* (replace # with @)

  • Official Site

Copyright © NA-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © NA-BIZ.COM All rights reserved.