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Aceto, a distributor of pharmaceutical ingredients and other chemicals and a maker of generic drugs, has declared bankruptcy and agreed to sell its distribution business to New Mountain Capital for $338 million. Aceto also wants to sell its generic-drug business, Rising Pharmaceuticals, which has been a financial burden on the company. New Mountain, a private equity firm, already owns the lab chemical and supplies distributor Avantor and the silicone chemicals producer Gelest.
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