FRAMINGHAM – LeBaronBrown Industries LLC announced on Monday, it has acquired a majority interest in a Framingham business, operating since 1972.
The private investment firm now has a majority interest in American International Chemical Inc.
American International Chemical is a Framingham-based sales and marketing company serving the food, pharmaceutical, nutritional, personal care, biotech, and industrial markets of North America.
Terms of the transaction were not disclosed. American International Chemical’s management team, led by its President and Founder Mike Schrage, will continue to manage the business. As part of the agreement, AIC has changed its legal status from American International Chemical Corporation to American International Chemical LLC.
The Framingham company is entering its 46th year of operations and undertook this transaction to position the company for long-term, continued growth.
Simon Brown and Matt LeBaron, co-founders of LeBaronBrown, in a media statement said “We are thrilled by the addition of AIC to the LeBaronBrown platform. The company’s high-quality, multi-decade performance history and reputation as a premier specialty chemical and ingredients provider made it an ideal choice. We look forward to the opportunity to provide resources and support to the existing management team to fuel continued growth.”