The acquisition will strengthen and expand Wasdell’s manufacturing and packaging capacity in the UK to support the company’s growing client portfolio.
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.”
Bringing additional experience into the Wasdell Group, Honeywood has operated as a contract manufacturer to the pharmaceutical and healthcare industries for over 20 years.
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 facilty 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 acquired site will also help to maintain the group’s additional portfolio of nutraceutical clients.
This news follows the recent announcement of the group’s European headquarters in Dundalk, Ireland, a custom-built state-of-the-art facility that is set to open its doors later this month.
Honeywood Limited was advised on this transaction by Wilson Browne Solicitors.