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VALLEY FORGE, Pa. — AmerisourceBergen Corp. has agreed to sell AndersonBrecon, its contract packaging business, to affiliates of an investor group led by Frazier Healthcare VI, LP for $308 million.
The transaction is expected to close by July.
“We are pleased that AndersonBrecon will join well-established firms heavily invested in the health care services market, including the pharmaceutical contract packaging sector,” said AmerisourceBergen president and chief executive officer Steve Collis.
“This transaction will help ensure that AndersonBrecon will continue to thrive in the years ahead, and allows AmerisourceBergen to focus on its distribution, specialty and manufacturer services businesses,” he added.
Last June Frazier Healthcare acquired the U.S. commercial contract pharmaceutical packaging operation of Catalent Pharma Solutions, which it operates as Packaging Coordinators Inc. (PCI). AndersonBrecon will be combined with PCI.
“We are pleased to merge two stellar players within the pharmaceutical and biotech packaging business, and believe that the combined company will deliver industry-leading quality and service to our customers and a world-class environment for our employees,” commented Frazier Healthcare general partner and PCI board member Nathan Every.
The agreement to sell AndersonBrecon marked the second divestiture by AmerisourceBergen within less than a week. Days before, in late March, the pharmaceutical distributor unveiled a deal to sell AmerisourceBergen Canada Corp. (ABCC), its Canadian pharmaceutical distribution business, to Canadian distributor Kohl & Frisch Ltd. The ABCC deal, too, came just over a week after AmerisourceBergen entered a long-term strategic partnership with Walgreen Co. and Alliance Boots.
