March 27 2014, David R Brown

ACETO Corporation (Nasdaq:ACET), a global leader in the marketing, sale and distribution of products for Human Health, Pharmaceutical Ingredients and Performance Chemicals, has announced that its wholly-owned subsidiary Rising Pharmaceuticals has signed a definitive purchase agreement to acquire 100% of the equity interests of PACK Pharmaceuticals, LLC, a national marketer and distributor of generic prescription and over-the-counter pharmaceutical products.

The acquisition of PACK Pharmaceuticals increases our mix of pharmaceutical business, broadens our opportunities for growth and expands our margins

Salvatore Guccione
CEO Aceto

The total transaction value is approximately $100 million. Under the terms of the definitive purchase agreement, the purchase price includes an initial payment of approximately $5 million in cash and $5 million in ACETO stock. The transaction is expected to close in the second half of April, subject to customary closing conditions and the receipt of required regulatory approval.

Commenting on the transaction, Salvatore Guccione, Chief Executive Officer of ACETO, said, “This transaction is another significant step in the strategic transformation of ACETO that we began with the acquisition of Rising Pharmaceuticals at the end of 2010. It increases our mix of pharmaceutical business, broadens our opportunities for growth and expands our margins. In addition to widening our product offerings to our existing customers, PACK also presents an initial entrance into the ‘branded generics’ business line.”

ACETO Corporation
ACETO Corporation, incorporated in 1947, is a global leader in the marketing, sales and distribution of products for human health (finished dosage form generics and nutraceutical products), pharmaceutical ingredients (pharmaceutical intermediates and API's)and performance chemicals (specialty chemicals and agricultural protection products). The Group has business operation in 9 countries worldwide and 234 employees, including a staff of 26 in China and 12 in India to facilitate worldwide sourcing and regulatory capabilities. For the fiscal year ending 2013, Aceto reported sales of nearly $500M.

Source(s): Aceto Press Release

Further Information

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