Platform completes Agriphar purchase
The US specialty chemicals company, Platform Specialty Products (Miami, Florida), has completed its acquisition of Belgian agrochemical company Agriphar (Ougrée) for some €300 million ($389 million at the current rate). It has also closed a $300 million debt facility, which was used to fund a portion of the purchase. Platform agreed to acquire Agriphar in August. That followed a previous deal to acquire Chemtura AgroSolutions for some $1,000 million. Platform's chief executive officer, Daniel Leever, welcomes the completion of the Agriphar purchase. "This is a key milestone in building out our new enhanced agrochemical vertical. We expect to close the Chemtura AgroSolutions transaction shortly, which will further enhance our capabilities and positioning in this attractive segment."