Richter/Helm acquire Strathmann for $31.6M
Hungarian drugmaker Richter Gedeon has formed a joint venture with Germany's Helm AG in order to buy German biotechnology firm Strathmann Biotec GmbH.
The total value of the acquisition, which is yet to be approved by the German Competition Authority, is 22.9 million euros ($31.6 million). The new JV will be owned 70% by Richter and the remaining 30% will belong to Hamburg-based Helm.
Strathmann comprises a biotechnology plant for bacterial biotechnology, and also has an R&D laboratory as well as pilot plant capacity. The company employs 81 staff. Helm is an international chemicals marketing organization focussing on national and regional distribution. The German firm says it is one of the world's leading independent chemicals marketing enterprises with branches and sales offices in more than 30 countries.
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