AmerisourceBergen, a Valley Forge, Pa.-based wholesale drug distribution and services company, plans to sell its contract packaging business to an investor group for $308 million in cash.
This is the second divestiture that AmerisourceBergen has announced in the past week. It said March 28 that it would sell its Canadian pharmaceutical distribution business to Kohl & Frisch, a Toronto-based distributor, at an estimated sales price between $80 million and $100 million.
AndersonBrecon, the contract packaging business based in Rockford, Ill., is set to be sold to a group that includes Frazier Healthcare VI and affiliates of Greenspring Associates, QIC Global Private Equity, and Thomas McNerney & Partners.
“This transaction will help ensure that AndersonBrecon will continue to thrive in the years ahead, and allows AmerisourceBergen to focus on its distribution, specialty and manufacturer services businesses,” AmerisourceBergen President and CEO Steven Collis said in a news release.
Both transactions are expected to close in the company's fiscal third quarter, which ends June 30.
AmerisourceBergen is also moving forward with a new deal with Walgreen. As part of a 10-year deal that was reached in March, AmerisourceBergen will provide brand-name, generic and specialty drugs to the Deerfield, Ill.-based drugstore chain.
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