3 August 2015
ABOUT BOULEVARD ACQUISITION CORP
VIEW AGROFRESH ACQUISTION FULL PRESENTATION
DETAILS
The Dow Chemical Company (NYSE: DOW)
announced today the completed sale of AgroFresh,
its post‐harvest specialty chemical business,
to Boulevard Acquisition Corp.,
a public investment vehicle, formed by Avenue Capital Group,
for more than $900 million.
In addition to cash and stock at closing, Dow expects to receive
significant ongoing cash payments
related to service and other agreements with AgroFresh
and a $50 million cash earn out if AgroFresh achieves certain targets
– putting the total value of the transaction over $1 billion.
The transaction has been unanimously approved by
the boards of directors of both companies, was approved by
a vote of Boulevard’s shareholders
on July 29, 2015, and officially closed July 31, 2015.
Following the close of the transaction,
AgroFresh has become a wholly-owned subsidiary of Boulevard
and Boulevard has been renamed
(NASDAQ: AGFS, AGFSW).
Dow continues to retain
a non‐consolidated minority ownership position in the new entity.
AgroFresh is positioned to grow through
* its existing innovative processes and
* future investments and
* acquisitions
For further information contact:
For Dow
Rachelle Schikorra
+1 (989) 638-4090
ryschikorra@dow.com
For AgroFresh Solutions, Inc.
Stan Howell
AgroFresh Solutions, Inc
+1 (317) 337-4349
sjhowell@agrofresh.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
