Boulevard Acquisition Agrees To Buy AgroFresh From Dow Chemcial

Boulevard Acquisition Corp. said Thursday it has agreed to buy Dow Chemical Co.'s AgroFresh unit, a post-harvest specialty chemical business, in a cash and stock deal valued at $810 million. Boulevard, which is part of Avenue Capital Group, said AgroFresh will become a publicly-traded entity with an initial enterprise value of $879 million. AgroFresh helps growers and packers of fresh produce preserve their goods. The company will be listed on Nasdaq, with Dow retaining a minority stake. The deal is expected to close in the third quarter. Boulevard and Dow shares were not yet active in premarket trade.