Ashland Global Holdings Inc. ASH, -1.39% a specialty chemicals company serving a range of consumer and industrial markets, said Mondya that it will acquire Pharmachem Laboratories Inc. for $660 million.

Pharmachem Labs provide ingredients for the health and wellness industry, such as vitamin and dietary supplements, ingredients for skin care and cosmetics, fragrance ingredients for laundry detergent and perfumes, and more.

The all-cash transaction is expected to be completed before the end of  the June quarter. It's also expected to be accretivee to Ashland's earnings per share in the first year following the close of the deal.

Ashland will host its investor day in New Your City on May 1. Ashland shares are inactive in premarket trading, and are up nearly 12% for the year so far.

The S&P 500 index SPX, -0.68% is up 4% for 2017 so far.