Pharmaceutical group United Drug has acquired the UK TD Packaging Limited for £11.4 million (€17 million).
TD Packaging, based in Swindon, provides primary and secondary packaging solutions to the international pharmaceutical and healthcare manufacturer industries. The company employs more than 200 people and recently moved to a new specialised packaging facility with enlarged capacity.
Announcing the acquisition yesterday, United Drug said it would complement and build upon its presence in the UK market.
Chief executive Liam FitzGerald said that, when combined with its business, it will further broaden the range of outsourced services its offers.
"The acquisition of TD Packaging further strengthens and complements our total offering... and continues to demonstrate the group's strategic commitment to meeting the service needs of healthcare manufacturers, and to providing relevant cost-effective service solutions for the healthcare industry," Mr FitzGerald said.
United Drug is paying £7.9 million in cash for the business, which will be paid on completion of the deal. A further £4 million will be payable on achievement of agreed profit targets over the next three years, it said.
United Drug is a healthcare services provider to pharmaceutical retailers and manufacturers in the UK and Ireland. It employs more than 2,000 staff at its pharma wholesale, contract sales outsourcing, contract distribution outsourcing and medical and scientific divisions.
