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AndersonBrecon joins fast-growing contract packer PCI

Published on 21/05/13 at 09:56am
AndersonBrecon image

Pharma packaging and clinical trial services company AndersonBrecon has been bought by a US private equity group in a £200 million ($308m) deal.

The investment group - Frazier Healthcare - is buying AndersonBrecon from US drug distribution group AmerisourceBergen and will fold the company into its recently set up Packaging Co-ordinators Inc (PCI), created when Frazier bought Catalent's contract packaging business last June.

AndersonBrecon - which was formed last year when Wales-based Brecon Pharma linked with US firm Anderson Packaging to form a new pharma-focused packaging specialist - operates 12 facilities around the world, including a facility in Hay-on-Wye and sites in Illinois and Philadelphia in the US. It currently has around 1,500 workers.

Combining AndersonBrecon with the PCI business will create a packaging giant with more than two million sq. ft. of operating space, 140-plus commercial and clinical packaging suites, and employing more than 2,000 people globally. The deal will give PCI a strong presence across both the US and European pharma markets, said the two companies.

"We are extremely excited to bring the experience of the AndersonBrecon team to propel our national presence and establish a European footprint for PCI," said Bill Mitchell, PCI's president and chief executive.

"PCI has been on an aggressive growth track in the last year, focused on providing customers with quality resources and packaging solutions."

The deal will be made in cash and is subject to customary closing conditions, including certain regulatory reviews, said Frazier. It is expected to close in the second quarter of 2013.

The acquisition was announced shortly after AmerisourceBergen said it was selling its Canadian drug distribution business - AmerisourceBergen Canada Corporation - to Canadian-owned national full-line distributor Kohl & Frisch for around $80 million to $100 million.

Phil Taylor

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