A recent Small Caps article discussed the latest acquisition in the pharmaceutical packaging world. Australia-based pharmaceutical company Probiotec has agreed to pay $23 million for Australian Blister Sealing (ABS) with an additional $5 million cash bonus if specific revenue hurdles are cleared in the first year. ABS offers a wide range of services including foil and blister packing, bottle filling, labeling, and secondary packaging of pharmaceutical and consumer products. The acquisition will likely close in the first quarter of the 2020 financial year, with forecast revenues expected to exceed $100 million by year-end.
Probiotec Acquires Pharmaceutical Packager Australian Blister Sealing
Pharmaceutical company Probiotec has agreed to pay at least $23 million to acquire all issued shares of ABS.