By Connor Hart
Ashland will sell its fragrance-fixative arm to Mane, a French fragrance and flavor company, for an undisclosed amount.
Additives and specialty ingredients company Ashland said Monday that the transaction is expected to close in the first quarter of 2025, subject to customary closing conditions.
Ashland's Avoca business supplies a fragrance fixative, which is used in perfume oil to increase its longevity, as well as a range of contract manufacturing capabilities from two production facilities in North Carolina and Wisconsin, the company said. It originally acquired the arm during its purchase of Pharmachem.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
December 23, 2024 17:22 ET (22:22 GMT)
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