NewMarket Inks Definitive Agreement To Acquire AMPAC Intermediate Holdings, LLC, The Ultimate Parent Company Of American Pacific Corporation (AMPAC), For Approximately $700M
Portfolio Pulse from Benzinga Newsdesk
NewMarket Corporation has signed a definitive agreement to acquire AMPAC Intermediate Holdings, LLC, the parent company of American Pacific Corporation (AMPAC), for $700 million. AMPAC, established in 1955 and based in Utah, is a key manufacturer of additives for rocket motors used in space and defense. The acquisition, which will close in Q1 2024, aims to broaden NewMarket's reach into essential and robust sectors.
December 04, 2023 | 10:03 pm
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NewMarket Corporation's acquisition of AMPAC for $700M positions it to expand into the aerospace and defense sectors, with the deal expected to close in Q1 2024.
The acquisition of AMPAC by NewMarket is a significant strategic move that could lead to revenue growth and diversification of NewMarket's portfolio into resilient sectors. Given the size of the deal and the relevance of the sectors involved, this acquisition is likely to be viewed positively by investors, potentially leading to a short-term increase in NEU's stock price.
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IMPORTANCE 80
RELEVANCE 100