Issue 6 2021 - Grace acquires Albemarle's fine chemicals business

Grace acquires Albemarle's fine chemicals business

Grace & Co.
today announced that it has entered into a definitive agreement to acquire Albemarle Corp.
's fine chemical services business (FCS) for approximately $570 million, including $300 million to be paid in cash upon completion and $270 million through the issuance of non-participating preferred stock
in a newly formed subsidiary of Grace to Albemarle.
The acquisition significantly strengthens Grace's existing pharmaceutical business and expands its reach
.

Pharma & Consumer is the largest, fastest-growing, and most profitable subdivision
of Grace's materials technology business.
FCS adds to Grace's existing portfolio of drugs focused on chromatographic resins, formulation excipients and drug delivery, as well as pharmaceutical intermediates and active pharmaceutical ingredients (APIs), with high-value products and services with high complementary analytics, regulatory and manufacturing capabilities
.
The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions, including certain regulatory approvals
.