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Mergers & Acquisitions

Croda to buy Iberchem for $970 million

by Melody M. Bomgardner
November 21, 2020 | APPEARED IN VOLUME 98, ISSUE 45

 

Croda International has agreed to acquire the Spanish fragrance ingredients firm Iberchem from Eurazeo for roughly $970 million. Croda will use debt and a share offering to fund the deal. Croda currently sells specialty chemicals for products including personal and home care goods. It says the purchase will allow it to offer new ingredients to these markets, particularly in developing economies. Iberchem had sales of over $206 million last year. It also sells flavor ingredients, which represent about 20% of its sales.

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