Ashland has announced that its subsidiary has completed the acquisition of Pharmachem Laboratories for US$660 million.

The New Jersey-based nutritional products and fragrances producer boasts 14 facilities across the US and Mexico.

“The addition of Phamachem offers attractive growth opportunities in higher-margin end markets and strengthens our existing business with advanced processing know-how and formulation expertise,” said William A Wulfsohn, Ashland Chairman and CEO. “We believe this combination will enhance our position in fast-growing nutraceutical end markets, open a new opportunity within fragrance and flavors, and strengthen Ashland’s food ingredient business by adding customized functional solutions. In addition, we expect to leverage our extensive sales channels, technical serviced network and global applications labs to accelerate Pharmachem’s growth.”