Outsourcing pharmaceutical partner Wasdell Group has acquired specialist manufacturer and packager Honeywood, the company has announced.
M&A
Wasdell hopes that the acquisition will help strengthen and expand its manufacturing and packaging capacity in the UK, to support its growing client portfolio. More so, the acquired site will help to maintain Wasdell’s additional portfolio of nutraceutical clients.
Commenting on the announcement, Vincent Dunne, CEO of The Wasdell Group said: “We are excited to announce the acquisition of Honeywood into the Wasdell Group. Expanding our current offering is the latest step in our ongoing strategic growth plans to meet rising demand for outsourced pharmaceutical services.
“By increasing our capacity and service offerings here in the UK, we will be able better service our growing client base in the US as they look to Wasdell to provide a fully outsourced supply chain for their products within Europe.”
Martin Tedham, chairman of the Wasdell Group added: “Honeywood caught our attention due to its synergies with the existing Wasdell operations. In particular, its oral liquid manufacturing capabilities will allow us to instantly increase capacity beyond our Newcastle upon Tyne facility to meet customer requests.
“Customers will benefit from expanded services, capacity and continuity. Honeywood’s operations will easily integrate into our current operations, and we are looking forward to collaborating with the current owners and staff moving forward.”
The news follows the recent announcement of the group’s European headquarters in Dundalk, Ireland, a custom-built facility that is set to open its doors later in the year.