US contract research organization Reaction Biology has acquired German contract laboratory Bioassay Labor für biologische Analytik and its wholly owned subsidiary Peptide Specialty Laboratories (PSL).
Consolidation in the distribution sector continues apace. Specialty chemicals and food ingredients distributor Azelis has entered into an agreement to take over Chemiplas, a leading distributor of specialty chemicals, plastic raw materials and ingredients in Australia, New Zealand and the Pacific Islands.
US agricultural chemicals and seeds group Corteva has agreed to buy Stoller Group, a compatriot producer of biostimulants and plant nutrition products, for $1.2 billion in cash. The transaction is expected to close in the first half of 2023.
UK specialty chemicals company Elementis has agreed to sell its chromium business to the Yildirim Group for $170 million. The deal values the business at 7.3 times the EBITDA posted in fiscal 2022 (30 June.)
AstraZeneca has agreed to acquire Neogene Therapeutics, a clinical-stage biotechnology company focused on the discovery, development and manufacture of next-generation T-cell receptor therapies (TCR-Ts) – a promising and novel cell therapy approach to target cancer.
Shell has sealed a definitive agreement to buy Europe’s largest biogas producer, Denmark’s Nature Energy, for €1.9 billion. The move is being seen as another sign of a former oil major’s effort to diversify its portfolio and reduce the dependence on fossil fuels that put it on the energy map.
Brenntag and Univar Solutions have both confirmed reports from late last week that they are in talks about the German-multinational chemical distributor acquiring its US rival. Both companies stress that the negotiations are at a preliminary stage.
Following all approvals, International Chemical Investors (ICIG) has completed its acquisition of the compounds business of the French Benvic group. The closing follows a binding agreement signed in August.
US CDMO Cambrex has agreed to buy Snapdragon Chemistry, a compatriot company specializing in developing continuous flow and batch processes for APIs. Snapdragon is based in Waltham, Massachusetts, where it employs 74 people.
US titanium dioxide pigments and performance additives producer Venator Materials has agreed to sell its iron oxide business to Hong Kong’s Cathay Industries for an enterprise value of $140 million. The transaction is expected to close by the end of quarter one 2023.
International Chemical Investors Group (ICIG) has entered exclusive negotiations with Nippon Soda and made what it said is a “firm and binding offer” to acquire the Japanese group’s offshoot Métaux Spéciaux (MSSA), a sodium metal specialist.
British drugmaker Indivior has agreed to buy Opiant, a US biotech specializing in treatments for addiction and drug overdose. Indivior will pay about $145 million upfront, plus another $68 million if Opiant hits revenue milestones.
Angus Chemical Company, a US-based global manufacturer and marketer of specialty ingredients for life sciences and industrial markets, has acquired Expression Systems, a compatriot manufacturer of cell culture media, baculovirus molecular reagents and cell lines used in advanced biological-based therapeutics.
UK specialist healthcare investor GHO Capital Partners and US investment firm The Vistria Group have entered into an agreement to buy a controlling interest in US CDMO Alcami from current private equity owners Madison Dearborn Partners (MDP) and Ampersand Capital Partners. Financial terms of the deal were not disclosed.
Turkish industrial conglomerate Yildirim will now launch a mandatory takeover bid for fertilizer producer Rosier – and a squeeze-out offer for the remaining shares – once the acquisition from Borealis has closed.
US nylon giant Ascend Performance Materials has acquired an undisclosed majority stake in compatriot Circular Polymers, a recycler of post-consumer high-performance polymers including PA 6 and 6.6, polypropylene and PET.
DuPont has terminated the agreement announced in November last year to acquire the outstanding shares of electronics materials specialist Rogers Corporation for $5.2 billion.
Indian specialty chemical company Dorf Ketal has agreed to acquire Clariant’s North American land oil business for an undisclosed sum.
Dutch CDMO Symeres has acquired Exemplify Biopharma, a US-based contract research organization (CRO) based in Cranbury, New Jersey, USA. The deal further strengthens Symeres’ foothold in the US, where it already generates about 50% of its revenues.
Italy’s SABO, a producer of polymer additives, cosmetics ingredients and specialized products for a variety of zootechnical and industrial applications, is acquiring the TAA derivatives business of Germany’s Evonik, including two production sites at Marl, Germany, and Liaoyang, China.
Canadian pharma Sunshine Biopharma has taken over compatriot company Nora Pharma for C$30 million.
Ineos Enterprises has agreed to acquire Ashta Chemicals from Bigshire Mexico for an undisclosed sum. The deal that includes a 100,000 kg/y potassium hydroxide (KOH) and a 65,000 t/y chlorine plant, is targeted to close before the end of 2022, subject to regulatory approvals.
South Korea’s LG Chem is to acquire US biopharma Aveo Oncology for an equity value of $566 million. Based in Boston, Massachusetts, Aveo is focused on developing cancer treatments.
Lilly has agreed to acquire Akouos, a precision genetic medicine company that is developing gene therapy treatments for hearing loss. Both companies’ boards have approved the deal, which is expected to close in the fourth quarter and cost Lilly up to $610 million.
Every year, the chemical industry sees hundreds of mergers and acquisitions (M&A). Traditional M&A drivers, such as consolidation and portfolio extension, are still important. But many transactions also show that the nature of M&A is evolving, as chemical companies look for ways to contend with ongoing volatility and move to a more sustainable future.
Petronas Chemicals Group Berhad (PCG) has completed its acquisition of all shares of Swedish chemical producer Perstorp for $1.54 billion, based on an enterprise value of €2.3 billion.
The European Commission has cleared Celanese’s proposed purchase of DuPont’s Mobility and Materials (M&M) business after the former agreed to sell its global thermoplastic copolymer business to allay competition fears.
US life sciences company Cytiva has acquired Germany’s Cevec Pharmaceuticals, a move Cytiva said would further strengthen its leading position in biomanufacturing solutions. Financial terms were not revealed.
Dutch life science ingredients distributor Barentz has acquired Viachem, a US-based company that distributes specialty chemicals, food additives and ingredients.
North American biochemical companies Flexible Solutions (FSI) and Lygos have called off their proposed merger. The companies did not give a reason for terminating the agreement, but said they remain committed to finding routes to sustainable aspartic acid and derivatives and would not let the end of their merger plans prevent them from working together in other ways.
AstraZeneca’s rare disease arm Alexion has agreed to acquire LogicBio, a US clinical-stage specialist in genomic medicines.
Nouryon has agreed to buy ADOB Fertilizers, a Polish-based supplier of chelated micronutrients, foliars and other specialty fertilizers. The move will expand Nouryon’s product portfolio and broaden its offerings for customers in the crop nutrition market.
Azelis has entered into an agreement to buy Eurotrading, an Italian specialty chemicals distributor with an extensive product portfolio in actives, emollients and emulsifiers.
Roquette, a French-based provider of pharmaceutical and nutraceutical excipients, has acquired Crest Cellulose, an Indian excipient manufacturer, reinforcing its presence in India and Asia.
Danish coatings company Hempel has acquired Cap Couleurs’ store network in southeastern France, maintaining its segment leadership in the Var region and supporting its growth initiatives. Financial terms were not disclosed.
