Aceto keeps up spending spree with acquisition of Ireland's A&C
Last April, when Aceto acquired Bioreagent, CEO Gilles Cottier wasn’t able to greet any of his new colleagues in person. But Tuesday, 18 months and four acquisitions later, he was in Ireland, meeting members of the A&C Bio Buffer, just as his company announced it bought out the CMO.
The New York-based manufacturer acquired A&C Bio Buffer to help boost its Covid-19 relief efforts and expand its wingspan within manufacturing, the company announced Tuesday.
A&C manufactures biological buffers — which are an organic substance that maintains a constant pH level — process and cleaning solutions, and water for injection at its Limerick, Ireland site. It’s the sixth acquisition Aceto has made in the past 2 years. The move comes just months after Aceto picked up A&C group, which A&C Bio Buffer was formerly a part of. And though Cottier is not ready to disclose just what the company’s next moves are, it isn’t done with mergers and acquisitions just yet.
Financial terms of the deal were not disclosed.
“We are proud of A&C Bio Buffer’s outstanding reputation for quality and customer service, and its emergence as a leading specialty manufacturer of GMP custom buffers and chemical blend products for the biopharmaceutical industry,” A&C CEO John Godfrey said in a press release. “We are delighted that our unique capabilities, European footprint and custom products are being incorporated into Acute, as we continue our evolution as a dynamic new solutions provider to the global pharmaceutical sector.”
The company has been growing quickly, while playing a key role in supplying raw materials for the Covid-19 vaccines.
In June, Aceto announced that it acquired Cascade Chemistry, a Eugene, Oregon-based CDMO that makes active pharmaceutical ingredients. In May, Aceto acquired Finar Limited, a New York distributor, and Bioreagent in April. In December 2020 it took on IsleChem and its contract R&D analytical services. The acquisitions add to its already-established manufacturing operations in China, India and Europe, in addition to North America.
While that growth will not go on forever, it is certainly here now, and Aceto has set itself up to be a key player in vaccination efforts.
“Each of these different companies is a different building block, some are more small molecule oriented,” Cottier said in an interview with Endpoints News. “A&C is really a critical part for upstream and downstream for the biopharma industry. “