Grifols acquires 49% of US firm Access Biologicals for €48 millions
<p>The agreement also includes a purchase option on the remaining 51%, which the Catalan multinational corporation may exercise in 2022</p>
Catalan hemoderivatives multinational corporation Grifols announced recently it has acquired 49% of the "voting rights" of Access Biologics, a US company specialized in manufacturing biological products, for a total of €47.9 million. The agreement includes a purchase option on the remaining 51%, which Grifols could acquire five years from now, in 2022.
At the same time, Access Biologicals has also signed a supply contract to sell Grifols’ disposable biological products for non-human use, as the Catalan firm notified the Comissión Nacional del Mercado de Valores (CNMV). The income resulting from this contract will join the Grifols Raw Materials division, which will now be called Bio Supplies and represent roughly 1.3% of the company's total turnover.
Through Bio Supplies, Grifols is expanding and reinforcing this line of business by incorporating complementary biological products and continuing to lay the groundwork for growth through previous acquisitions, including hematological products manufactured by IBBI.
Access Biologicals, founded in 2006, manufactures specific sera and plasma reagents used by biotechnology and pharmaceutical companies for in-vitro diagnostics, cell cultures and research and development in the field of diagnostics.