Sector News

Dow Chemical to sell AgroFresh for $860 mln in asset-sale drive

April 30, 2015
Chemical Value Chain
(Reuters) – Dow Chemical Co (DOW.N) said it would sell its AgroFresh unit, which makes chemicals that keep farm produce fresh, for $860 million as part of a plan to divest less-lucrative units.
 
The company said it was selling the business to Boulevard Acquisition Corp (BLVD.O), a blank-check company formed by investment firm Avenue Capital Group.
 
AgroFresh’s specialty chemical products help to maintain the firmness, texture and appearance of fruits during storage and transport.
 
(Reporting by Swetha Gopinath in Bengaluru; Editing by Saumyadeb Chakrabarty)

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