Recipharm reaches agreement to acquire Fontaine-Lès-Dijon production site
Recipharm AB, one of the leading contract pharmaceutical development and manufacturing organisations (CDMO), is seeking to enter into an agreement to acquire the Fontaine-Lès-Dijon (France) production site from Laboratoires Fournier, a subsidiary of Solvay Pharmaceuticals. The site comprises tablet, capsule and manufacturing facilities as well as a modern logistics centre.
This additional production capacity in France will allow Recipharm to expand further its offering into a region it has identified as having scope for growth. The company already has a sterile manufacturing plant in Monts (Indre-et-Loire), which it acquired from Astra Zeneca in July 2007. In recent years, Recipharm has benefitted from significant growth and now owns seven production plants and a development centre in Europe.
Under the terms of the agreement, Recipharm will have a long term agreement involving most of the current activities of the site. Recipharm also plans to develop the Fontaine-Lès-Dijon site, through a diversification of clients and product ranges. The acquisition will also allow Recipharm to benefit from specific production capacities and it will take over all the personnel of the site. The acquisition should be completed by January 1st, 2009.
Commenting on this latest development, Thomas Eldered, CEO and Managing Director of Recipharm, said, “The acquisition of the Fontaine facility brings to the group an excellent facility, well skilled workforce and major new customer. It also supports our strategy to becoming one of the leading CDMO’s. We very much look forward to completing the transaction and welcoming the employees to Recipharm“.
Laboratoires Fournier launched a search for a buyer for the Fontaine-Lès-Dijon site at the end of 2007, given its strategic objective to dedicate more resources to Research & Development, and to optimise manufacturing activities in Europe.