Ashland completes sale of its Avoca business to Mane

The Avoca business supplies sclareolide, a fragrance fixative, and a range of contract manufacturing capabilities from two production facilities in North Carolina and Wisconsin. The Avoca business line represents the last entity from Ashland's previous acquisition of Pharmachem.

'The Avoca business is a strong player in the fragrance fixative space, with a dedicated team and attractive manufacturing capabilities to meet customer needs,' said Guillermo Novo, chair and chief executive officer, Ashland. 'I want to thank the Avoca employees for their dedication and commitment to Ashland and to our customers. On behalf of the Ashland team, I wish them continued success as part of Mane.'

'I am pleased to announce the acquisition of the Avoca sites from Ashland, reinforcing our commitment to the production of ingredients for our industry,' said Samantha Mane, CEO of MANE.

Squire Patton Boggs is acting as legal advisor to Ashland.

Source: Ashland