05:30 PM EST, 12/23/2024 (MT Newswires) -- Ashland (ASH) said Monday it entered into a definitive agreement to divest its Avoca business to Mane.

Financial details weren't disclosed.

Ashland's Avoca business provides Sclareolide, a fragrance fixative, along with various contract manufacturing services from two production sites in North Carolina and Wisconsin.

The transaction is expected to close in Q1 2025, subject to customary closing conditions.