Siegfried acquires three BASF sites
Acquisition represents the final step in Siegfried’s targeted 5-year procurement policy
Following an agreement between the two companies, Siegfried has successfully acquired BASF’s pharmaceutical supply business and three sites in Evionnaz (Switzerland), Saint-Vulbas (France) and Minden (Germany).
The three sites, with more than 800 employees, reported total sales for 2014 of approximately CHF280m. The debt-free price of acquisition amounts to approximately €270m.
Siegfried CEO Rudolf Hanko commented: ‘With this acquisition, Siegfried will play a leading role in the supplier market as a recognised partner for the pharmaceutical industry. This acquisition demonstrates significant growth potential for the Siegfried Group.’
Producing active pharmaceutical ingredients and intermediate products, the combination of Siegfried and BASF’s pharmaceutical supply business represents an attractive base for sustained profitable growth, noted Hanko.
With integration set to be completed by the end of 2016, this acquisition represents the final step in Siegfried’s targeted five-year procurement policy. Previous acquisitions include California-based AMP and Hameln Pharma in Hameln. Siegfried also commissioned a production plant in Nantong, in one of China’s most modern chemical industrial parks.
With total sales of approximately CHF600m and an EBITDA of approximately CHF100m, Siegfried is now positioned as a comprehensive and leading supplier in its ongoing consolidation process.