International Paper Completes Sale of Arizona Chemical Company to Rhone Capital
International Paper Company (NYSE: IP) today completed the sale of its Arizona Chemical Company to Rhône Capital III L.P. for approximately $485 million. In addition, International Paper will acquire a minority interest of approximately 10 percent in the acquisition vehicle to be formed by Rhône Capital.
Arizona Chemical Company (www.arizonachemical.com) has been a global leader in pine-based specialty chemicals for more than 75 years. The company is headquartered in Jacksonville, Fla., and supplies high-quality pine chemicals to the adhesives, inks and coatings, and oleochemicals markets.
Scott-Macon’s Chemical Industry Group initiated the transaction and acted as exclusive financial advisor to Rhône Capital in this transaction.