Transaction will free up capital for new investment for all parties involved
Andrew Badrot, CEO of C2 Pharma
On 22 June, C2 Pharma acquired the remaining 50% of the shares in its joint venture from PAMA Holding, the investment vehicle of the Centroflora Group in Luxembourg. CEO Andrew Badrot is now the sole shareholder of C2 Pharma.
The transaction enables both parties to focus on their respective strengths:
"This is another major milestone in the corporate development of C2 Pharma", commented Andrew Badrot, C2 Pharma's CEO. "At the eve of the fourth year anniversary after the acquisition of Boehringer Ingelheim's phytochemical API product portfolio, we found a common approach with my partners at Centroflora in Brazil to achieve our respective goals."
"C2 Pharma will now accelerate its growth initiatives and work on breakthrough API manufacturing technologies. We have exciting API and botanical extract opportunities to work on as well as a few additional acquisitions and investments on the horizon."