Recipharm announces sale of Fontaine-lès-Dijon site to Astrea
Recipharm today announces the sale to Astrea Pharma, the newly established CDMO provider focused on small molecule oral solid and aseptic dosages, of the solid dose manufacturing site at Fontaine-lès-Dijon, France.
Under Recipharm’s ownership, Fontaine has developed extensive experience manufacturing and packaging tablets and capsules. The capabilities fit well with Astrea’s ambitions to grow a broad range of different processing, filling and packaging technologies, as well as a wide geographical reach.
Astrea’s owners are seasoned veterans in the CDMO industry and have the financial backing of the French long-term investment company Groupe Chevrillon, a family-owned business with a strong track record of investment in industrial and service companies.
Marc Funk, CEO of Recipharm, said: “This divestment will help strengthen our financial position and we see it as a positive step in streamlining our operations and consolidating our position as a top five global Contract Development and Manufacturing Organisation. I am pleased that this business will get a committed owner with the capacity and capability to develop it to its full potential. We will continue to develop and invest in our highly successful contract manufacturing business.”
Elie Vannier, Chairman of Astrea Pharma, said: “We are happy to have made, as our first investment, the acquisition of a site with a great reputation for quality and service, the cornerstones of our values. We are confident that, with the excellent team in place, Astrea-Fontaine will be able to grow rapidly while satisfying our customers and bringing peace of mind to all. Our plans are to make this site a state-of-the-art facility and we will invest in people and equipment to reach our goal.”