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Rhone Capital Acquires Arizona Chemical
8:22 AM MDT | July 30, 2007 | Michelle Bryner
International Paper (IP) says it has agreed to sell its Arizona Chemical (Jacksonville, FL) unit to private equity firm Rhone Capital for $485 million. As part of the agreement, IP will retain a minority interest of approximately 10% in Arizona Chemical. The deal is expected to close in the first quarter, IP says. Arizona Chemical is the world’s largest producer of oleochemicals and specialty resins based on crude tall oil, a by-product of wood pulping. Its primary competitors include Eastman Chemical, Forchem Oy (Rauma, Finland), Georgia-Pacific, and...
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