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17 Dec 2018 | 07:14

Croda to acquire Brenntag Biosector for €72m

Croda International signed Monday an agreement with Brenntag Nordic to acquire Brenntag Biosector for €72m.

Biosector, a specialist in the manufacture and supply of adjuvants serving the human and veterinary vaccine market, was founded in 1939. Its product portfolio included innovative aluminium and saponin-based adjuvants.

On competition of the deal, Biosector would be integrated into Croda's Health Care business within the Life Sciences sector.

Croda would leverage Biosector's formulation and purification expertise to accelerate the development of Biosector's rich pipeline of next generation adjuvant systems. 'Biosector is a rare asset, in a high value, fast growing sector of the global pharmaceutical market. With an experienced high-quality team, Biosector brings world-class protected technologies and industry-leading manufacturing facilities,' said Steve Foots, Chief Executive of Croda. 'Furthermore, the strong cultural alignment between Biosector and Croda enhances our highly technical-based sales approach and emphasis on value over volume. The opportunity to quickly build upon Biosector's impressive track record to date is enormously exciting and we look forward to welcoming the team to Croda.'

Story provided by StockMarketWire.com
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