GRAFTON – Albany
Molecular Research Inc. on Monday announced it has signed an
agreement to acquire Grafton-based Cedarburg Pharmaceuticals
Inc. for $38.2 million in cash.
AMRI will also assume $2.8 million of Cedarburg’s debt,
according to a statement, resulting in the total deal to be
valued at $41 million. The transaction is expected to close in
Cedarburg will continue to operate independently and will report
to Chuck Boland, AMRI co-founder and executive vice president of
business development, according to the statement.
"We are very excited to be joining efforts with Cedarburg as
they bring a unique blend of expertise in complex API, a
scalable business infrastructure and extensive customer
relationships that will augment our existing capabilities and
services," said William S. Marth, AMRI's president and chief
executive officer. "This transaction represents an important
first step in building out our API capabilities, broadens our
offerings and customer base and provides us with an ideal
platform to pursue additional value creation opportunities.”
Cedarburg makes active pharmaceutical ingredients for both
generic and branded customers.