Deal covers Walgreens Boots Alliance beauty and private label
The proposed agreement will create a partnership to provide WBA with a core multinational manufacturing and development resource, enabling WBA to accelerate its global product strategy.
Under the terms of the offer, Fareva will take ownership of BCM, WBA’s contract manufacturing business, which operates factories in the U.K., France and Germany.
Fareva manufactures in 11 countries, including the U.S., and has significant research and development capabilities.
The proposed agreement, which is subject to European Works Council consultation and regulatory approval, is expected to be completed by the end of calendar year 2017.