Ashland completes sale of Avoca business to Mane

Core Viewpoint - Ashland Inc. has completed the sale of its Avoca business to Mane, effective March 14, 2025, with financial terms undisclosed [1]. Group 1: Company Overview - Ashland Inc. is a global additives and specialty ingredients company, focusing on environmental, social, and governance (ESG) practices, serving various markets including construction, energy, and pharmaceuticals [5]. - Mane is a leading global producer and supplier of fragrances and flavors, established in 1871, and is recognized as the fastest growing major company in the industry [6][7]. Group 2: Business Details - The Avoca business specializes in supplying sclareolide, a fragrance fixative, and offers contract manufacturing capabilities from facilities in North Carolina and Wisconsin [2]. - The Avoca business line was the last remaining entity from Ashland's previous acquisition of Pharmachem [2]. Group 3: Leadership Statements - Guillermo Novo, CEO of Ashland, expressed gratitude towards Avoca employees for their dedication and wished them success as part of Mane [3]. - Samantha Mane, CEO of Mane, highlighted the acquisition as a reinforcement of their commitment to producing ingredients for the fragrance industry [3].