Croda International PLC Acquisition of global vaccine adjuvant specialist (6004K)
December 17 2018 - 2:00AM
UK Regulatory
TIDMCRDA
RNS Number : 6004K
Croda International PLC
17 December 2018
17 December 2018
Croda International Plc
Acquisition of global vaccine adjuvant specialist
Croda International Plc ('Croda') today announces that a
definitive agreement has been signed with Brenntag Nordic A/S to
acquire Brenntag Biosector A/S ('Biosector'). Biosector is a
specialist in the manufacture and supply of adjuvants serving the
human and veterinary vaccine market. The total consideration is
EUR72 million in cash and the transaction is expected to close by
the end of 2018.
Biosector was founded in 1939 and operates from a GMP-certified
adjuvants manufacturing facility in Frederikssund, Denmark. Its
product portfolio comprises innovative aluminium and saponin-based
adjuvants. Aluminium-based adjuvants are extensively used in human
and veterinary vaccines to increase their effectiveness. They also
provide a platform to introduce new technically advanced
saponin-based adjuvants.
Vaccine adjuvants are a natural extension to Croda's market
leading, high-purity excipient delivery systems in its Health Care
business. These adjuvants represent a niche, high-growth market,
driven by increased healthcare spending alongside advances in
biotechnology and the growing need for preventative treatments.
Biosector is differentiated through its high quality portfolio of
adjuvants, with a strong position in human applications.
On completion, Biosector will be integrated into Croda's Health
Care business within the Life Sciences sector. It will continue to
be led by its dedicated team, all of whom have extensive, class
leading credentials and pharmaceutical experience. Croda will
leverage its formulation and purification expertise to accelerate
the development of Biosector's rich pipeline of next generation
adjuvant systems. Croda will also utilise its dedicated global
sales network to deliver Biosector's growth potential.
Steve Foots, Chief Executive of Croda, commented:
"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.
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."
Further information:
Investors: Conleth Campbell, VP Investor Relations, Croda Tel: +44 1405 860 551
Media: Charlie Armitstead, Teneo Tel: +44 20 3603 5220
About Croda:
Established in 1925, Croda is the name behind high performance
ingredients and technologies in some of the world's biggest and
most successful brands: creating, making and selling speciality
chemicals that are relied on by industries and consumers
everywhere.
Croda has a network of over 4,300 passionate and committed
employees, working together as one global team across manufacturing
sites and offices in 37 countries. Croda is a FTSE100 company with
a flexible structure that allows it to focus on developing and
delivering innovative, sustainable ingredients that its customers
can build on in: Personal Care, Life Sciences (Health Care and Crop
Care), Performance Technologies (Smart Materials, Energy
Technologies, Home Care & Water Treatment) and Industrial
Chemicals.
www.croda.com
About Brenntag:
Brenntag, the global market leader in chemical distribution,
covers all major markets with its extensive product and service
portfolio. Headquartered in Essen, Germany, the company operates a
global network with more than 530 locations in 73 countries and a
workforce of more than 16,000 employees. In 2017, the company
generated sales of EUR 11.7 billion (USD 13.3 billion). Brenntag
connects chemical manufacturers and chemical users. The company
supports its customers and suppliers with tailor-made distribution
solutions for industrial and specialty chemicals. With over 10,000
products and a world-class supplier base, Brenntag offers
one-stop-shop solutions to around 185,000 customers. This includes
specific application technology, an extensive technical support and
value-added services such as just-in-time delivery, product mixing,
formulation, repackaging, inventory management and drum return
handling. Long-standing experience and local excellence in the
individual countries characterise the global market leader for
chemical distribution.
www.brenntag.com
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END
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