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news.Vion has signed a definitive agreement with Patheon to sell its Banner Pharmacaps, which is headquartered in US, for $255m.
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The sale is part of Vion’s revised strategy to disinvest companies that are no longer part of the company’s core activities.
Banner Pharmacaps manufactures proprietary softgel capsules for the pharmaceutical industry.
Vion executive board member and Banner Pharmacaps board of directors chairman Peter Beckers said the sale of Banner is a strategic transaction for both organizations.
"It allows VION to focus on its core business of food and ingredients, while aligning Banner with a global company that is known for its focus on quality and customer service in the pharmaceutical industry,” Beckers added.
”We are convinced that this transaction represents the best outcome for Banner’s customers, partners and for our people, who will benefit from the scale opportunities of being a part of an organization such as Patheon."