Ashland Completes Sale of Its Avoca Business to Mane

Ashland Inc. announced that it has completed the sale of its Avoca business to Mane, effective March 14, 2025. Financial terms of the transaction were not disclosed.

The Avoca business supplies the aromatherapy fixative sclareolide and a range of contract manufacturing capabilities through two production facilities located in North Carolina and Wisconsin. The Avoca business line is the last entity formed following Ashland's previous acquisition of Pharmachem.

Guillermo Novo, Chairman and CEO of Ashland, said: "The Avoca business is a strong player in the aromatherapy fixative space with a dedicated team and attractive manufacturing capabilities to meet customer needs. I would like to thank the Avoca employees for their dedication and commitment to Ashland and our customers. On behalf of the Ashland team, I wish them continued success at Mane."

"I am pleased to announce the acquisition of the Avoca facility from Ashland, which strengthens our commitment to raw material production for the industry," said Samantha Mane, CEO of MANE.