Snaith, East Yorkshire-based speciality chemicals giant Croda International said on Monday it agreed to acquire Denmark-based Brenntag Biosector A/S from Brenntag Nordic A/S for about €72 million in cash.
Biosector is a specialist in the manufacture and supply of adjuvants serving the human and veterinary vaccine market.
The transaction is expected to close by the end of 2018.
“Vaccine adjuvants are a natural extension to Croda’s market leading, high-purity excipient delivery systems in its Health Care business,” said Croda.
“These adjuvants represent a niche, high-growth market, driven by increased healthcare spending alongside advances in biotechnology and the growing need for preventative treatments. “
Croda CEO Steve Foots said: “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.”