Dow Advances Portfolio Management Drive with Divestment of AgroFresh

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Go back to Dow Advances Portfolio Management Drive with Divestment of AgroFresh

Boulevard Acq (BLVD) Gains After Acquiring AgroFresh from Dow Chemical (DOW)

April 30, 2015 9:18 AM EDT

Boulevard Acquisition Corp. (NASDAQ: BLVD), an entity sponsored by an affiliate of Avenue Capital Group, is up 14.4% in early trade after the company announced today that it has entered into a definitive agreement with The Dow Chemical Company (NYSE: DOW) under which Boulevard will acquire AgroFresh, Dow's post-harvest specialty chemical business, in a transaction that will result in AgroFresh becoming a publicly traded company with an anticipated initial enterprise value of $879 million, or 8.7x its estimated 2015 EBITDA.

AgroFresh is a global industry leader in providing innovative data-driven... More