Arch Chemicals is Bought by Swiss Group

Lonza, a Swiss company, announced Monday that it has purchased Arch Chemicals for $47.60 per share of Arch stock in cash. According to a news release, the amount is nearly 37 percent more than the closing price over the last 30 days.

The company expects revenue to reach $50 million annually, the statement noted, through the combined businesses and additional product offerings.

Lonza Group Ltd is one of the world’s leading suppliers to the pharmaceutical, healthcare and life science industries, the release noted, and Arch Chemicals Inc. is a global biocides company with 23 primary manufacturing and research facilities around the world.

The company, which has a location in Cheshire, is headquartered in Norwalk and employees about 3,000 according to the release. 

“We are pleased to have reached this agreement with Lonza, a company that knows our business well and shares our commitment to continuous improvement in innovation, operational excellence, safety and sustainability," said Michael Campbell, Arch Chemicals.

A representative of Arch Chemicals couldn't immediately be reached about whether the purchase would affect the Cheshire location.