£64m acquisition for Goole’s Croda International

Leeds biotech secures $20m loan to boost growth
Credit: Shutterstock.com/ ESB Professional

Croda International, the Goole-headquartered speciality chemicals producer, is acquiring Danish pharma business Brenntag Biosector for €72 million (£64 million).

Brenntag Biosector develops adjuvants for the human and veterinary vaccine market.

Adjuvants are used to boost the therapeutic impact of a drug or an inoculation and are used widely throughout the life sciences sector.

Croda Chief Executive Steve Foots said: “Biosector is a rare asset, in a high-value, fast-growing sector of the global pharmaceutical market.

“With an experienced high-quality team, Biosector brings world-class protected technologies and industry-leading manufacturing facilities.

“Furthermore, the strong cultural alignment between Biosector and Croda enhances our highly technical-based sales approach and emphasis on value over volume.

“The opportunity to quickly build upon Biosector’s impressive track record to date is enormously exciting and we look forward to welcoming the team to Croda.”