Cedarburg Hauser Pharmaceuticals, the Grafton, WI-based contract developer and manufacturer of active pharmaceutical ingredients (API) for the drug industry, will be acquired for $41 million by Albany Molecular Research Inc. (AMRI), the two companies announced today.
Albany, NY-based AMRI (NASDAQ:AMRI), a global contract drug discovery, development, and manufacturing firm, said it is paying $38.2 million in cash and assuming $2.8 million in Cedarburg debt to acquire the company from primary shareholder Signet Healthcare Partners, a New York-based private equity firm.
The deal is expected to close in April. AMRI said Cedarburg is expected to continue to operate independently within AMRI’s API business unit. The operations are expected to remain in Wisconsin, according to Cedarburg marketing manager Bob Forner.
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You can find the company press release here.