Air Products and Chemicals Inc. said it agreed to acquire ACP Europe SA, a major CO2 business on continent.

The target, which has 120 employees, operates four liquid CO2 production plants and two dry ice production units in Europe. The acquisition will help Air Products in its European core geographies where the company already provides industrial gases.

The deal is subject to regulatory approvals and fulfillment of customary closing conditions. Financial terms were not disclosed.