Johnson Matthey has acquired Avocado Research Chemicals, a manufacturer and supplier of organic compounds used in laboratory research.
Based in Heysham, Lancashire, U.K., Avocado is a reputed supplier of specialized organic chemical products. The company also sells semi-bulk quantities of chemicals to customers in the fine chemical and pharmaceutical industries.
It is already a significant supplier to Johnson Matthey, which has been its distributor in the U.S. for five years.
Avocado will be integrated into Johnson Matthey’s Research Chemicals Business. The purchase price of 25 million is subject to adjustment, based on subsequent performance of the Avocado business, up to a maximum of 34 million.
Commenting on the acquisition, Chris Clark, chief executive officer of Johnson Matthey, says: “This is a further example of our strategy of making niche acquisitions in our core catalysts and chemicals businesses.”
Avocado employs about 70 people.
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