Nautic Partners has been negotiating a sale of its fragrances business Agilex Flavors and Fragrances to buyout firm MidOcean Partners, according to Dow Jones's LBO Wire.
The Federal Trade Commission reportedly granted the deal early antitrust clearance. The report says terms of the deal couldn't be determined, although New York-based MidOcean seeks to invest at least $25 million of equity per transaction.
Agilex divested its flavor division in 2010.
