THE WHAT? Ashland has announced that it has agreed to acquire the personal care business from Schulke & Mayr, a portfolio company of global investment organization EQT for €262.5 million.

THE DETAILS The transaction is expected to complete before the end of June and is subject to regulatory approval.

“This is an excellent example of the type of bolt-on acquisition opportunities that will help advance our strategy and support the profitable growth of our core businesses,” said Guillermo Novo, Chairman and Chief Executive Officer, Ashland. “I am excited about having the Schülke & Mayr personal care employees join Ashland to help us broaden our breadth of specialty additives solutions and expand our biotechnology and microbiology technical capabilities.”

THE WHY? The acquisition is consistent with Ashland’s strategic positioning as a premier specialty additives supplier and strengthens its consumer business portfolio as well as advances its environmental, social and governance agenda.