Siegfried Completes Acquisition of BASF API Mfg Sites

Siegfried has completed its previously announced acquisition of BASF's pharmaceutical supply business and the corresponding 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 CHF 280 million ($316 million). The debt-free price of acquisition amounts to approximately EUR 270 million ($305 million).

Similar to Siegfried, the BASF business unit concerned supplies the pharmaceutical industry and produces active pharmaceutical ingredients and intermediate products. Siegfried expects the integration to be completed by the end of 2016.

This acquisition represents the final step in Siegfried's targeted acquisition policy implemented in the last five years. Siegfried previously acquired California-based AMP and Hameln Pharma in Hameln, Germany. Siegfried also commissioned a production plant in Nantong, China.

The Siegfried Group now employs a total workforce of over 2,300 employees at nine sites in Europe, North America, and Asia.

Source: Siegfried Group

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