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Frazier Healthcare Acquires AndersonBrecon

Expands packaging services portfolio

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Frazier Healthcare has signed a definitive agreement to acquire AndersonBrecon, the contract packaging business of AmerisourceBergen Corp., for $308 million in cash. Frazier Healthcare and Packaging Coordinators, Inc. (PCI), a provider of pharma and biopharma packaging services, will combine with AndersonBrecon to offer services on a global scale. The purchase, subject to customary closing conditions, is expected to close in 2Q13.
 
“We are extremely excited to add the complementary U.S. and European footprint of AndersonBrecon to the strength of PCI’s capabilities,” said Bill Mitchell, PCI’s chief executive officer. “This acquisition is a positive step in PCI’s growth strategy.”
 
“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,” said Nathan Every, Frazier Healthcare general partner and PCI board member.
 
In addition to Frazier, the investor group includes affiliates of Greenspring Associates, QIC Global Private Equity, and Thomas McNerney & Partners, who were part of the transaction. RBC Capital Markets acted as exclusive financial advisor to PCI, Frazier and co-sponsors. Goodwin Procter LLP represented Frazier and PCI in the transaction.

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