Anupam Rasayan India Limited (ARIL) has announced the acquisition of 100% equity in Jayhawk Fine Chemicals, a US-based specialty chemicals company, from the CABB Group. The definitive agreement was signed on December 9, 2025. Jayhawk, headquartered in Kansas, USA, is a specialized manufacturer with capabilities in custom manufacturing, high-quality processing, and complex chemical synthesis. This acquisition aligns with ARIL's strategy to build a global integrated specialty and CDMO platform. It provides ARIL with a direct onshore manufacturing presence in the United States, enhancing engagement with multinational customers who value geographic diversification and supply chain resilience. The acquisition also strengthens ARIL's platform by adding advanced intermediates and N-1 molecules for high-performance materials and life-science customers, complementing its existing backward integration in fluorination raw materials through its investment in Tanfac. The acquired portfolio includes high-value di-anhydrides and polyimide intermediates, positioning ARIL as a strong integrated player in the semiconductor, automotive, EV, aviation, and electronics sectors. The transaction is expected to be EPS-accretive from day one. On a pro-forma basis, the combined entity would have revenues of approximately USD 243 million and an EBITDA of approximately USD 61 million. The enterprise value of the acquisition is approximately USD 134 million, implying an EBITDA multiple of around 9x CY'24 earnings. The total purchase consideration is approximately USD 150 million, including USD 16 million in cash on Jayhawk's balance sheet. ARIL will invest USD 40 million through internal accruals and debt, while a leading global investment management firm will invest approximately USD 110 million in Class B non-voting shares, allowing ARIL to fully consolidate Jayhawk's financials. Jayhawk reported approximately USD 78 million in revenue in CY24 with EBITDA margins of around 19%, with 65% of revenue from performance materials and the rest from life and life science-related molecules. The transcript of the investor call held on December 15, 2025, discussing the US acquisition update, was submitted to the stock exchanges on December 19, 2025. The company's website also hosts this information.