New York – April 30, 2015 – International law firm Greenberg Traurig represented Boulevard Acquisition Corp. in a definitive agreement with The Dow Chemical Company. Under the agreement, Boulevard Acquisition Corp. acquired AgroFresh, Dow’s post-harvest specialty business.
The transaction will result in AgroFresh becoming a publicly traded company with an initial enterprise value of approximately $850 million. Thomas Macphee, current vice president and corporate director for Dow, who was responsible for AgroFresh in its early stages of development, is intended to be chief executive officer of AgroFresh when the transaction is complete.
Unanimously approved by the board of directors of Boulevard Acquisition Corp. and Dow’s Chemical Company, the transaction is expected to close in the third quarter of 2015. Initially, Dow will hold 40 percent of AgroFresh’s shares and the stockholders of Boulevard will hold 60 percent.
The deal team was led by Alan Annex (New York) and includes Kenneth Gerasimovich (New York), Joseph Herz (New York), Bruce Steinert (San Francisco), in addition to associate Phil Wolf (New York).
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