Mergers & Acquisitions MWV Specialty Chemicals, a division of WestRock Co., was officially renamed Ingevity. The business is slated to be spun off as an independent, publicly traded company by early 2016. WestRock was formed as a result of the January 2015 merger between MeadWestvaco (MWV) and RockTenn. New York-based private equity firm New Mountain Capital acquired Zep Inc. in a transaction valued at approximately $692 million. Symrise AG acquired Pinova Holdings, Inc., a Brunswick, GA-based supplier of fragrance and oral care ingredients from natural and renewable sources. The acquisition, which expands Symrise’s range of fragrance ingredients, is valued at $397 million. Subject to regulatory approval, the deal is expected to close by the start of 2016. A long-term commercial collaboration deal was formed between Lonza’s Consumer Care unit and Italian-based specialty chemicals supplier Lamberti, allowing the former to sell Lamberti’s portfolio of hair care, personal care and household care products in South America. The collaboration allows Lonza to access to Lamberti’s technologies, such as natural hair-conditioning polymers, and Lamberti to benefit from Lonza’s existing infrastructure, customer relationships and sales and technical support teams in Brazil, Argentina and other countries in the region. Ashland, Inc. announced a plan to separate into two independent, publiclytraded companies, the final step in Ashland’s decade-long transition from an oil refiner and marketer to a specialty chemicals company. The “new” Ashland will focus specifically on specialty chemical solutions, while Valvoline will provide engine and automotive maintenance products, as well as approximately 940 Valvoline Instant Oil Change service centers across the U.S. The tax-free separation is still subject to final board and regulatory approval. Berry Plastics Group, Inc. completed the acquisition of AVINTIV Inc. from private equity funds managed by Blackstone for approximately $2.45 billion. AVINTIV is a developer, producer and marketer of specialty materials used in infection prevention, personal care and highperformance solutions. The company expects the deal to close by the end of this year. AVINTIV has twenty three locations in fourteen countries. Inter Parfums, Inc. announced that its majority owned Paris-based subsidiary, InterparfumsSA, has extended its license agreement with Montblanc by five years. The original agreement, signed in 2010, provided InterparfumsSA with the exclusive worldwide license to create, produce and distribute perfumes and ancillary products under the Montblanc brand through December 31, 2020. The new 10-year agreement, which goes into effect on Jan. 1, 2016, extends the partnership through December 31, 2025 without any material changes in operating conditions from the prior license. 44 Spray November 2015
Spray November 2015
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