The firm represented VION NV in connection with its sale of VION’s Banner Pharmacaps division to Patheon Inc., a Canadian, publicly traded provider of development and commercial manufacturing services for solid and sterile prescription drugs. Banner is the world’s second largest pharmaceutical business focused on delivering proprietary softgel formulations. The company has four manufacturing facilities, significant proprietary technologies and products, and leading positions in some of the industry’s fastest-growing product categories. Banner is headquartered in High Point, N.C., with additional research labs and manufacturing facilities in The Netherlands, Canada, and Mexico.
VION, with headquarters in Eindhoven, The Netherlands, is a global food company active in the fields of high-quality foodstuffs and ingredients for people and animals. In 2011 VION had turnover of €9.5 billion.
The transaction was structured as a sale of all of the shares of the entities through which Banner conducts its worldwide operations for a purchase price of approximately $255 million, subject to certain post-closing adjustments. After obtaining regulatory approvals, the transaction closed on December 14, 2012. The firm represented VION throughout the entire sale process.