Wasdell, an outsourcing partner for pharmaceutical companies, has acquired Honeywood, a specialist pharmaceutical manufacturer and packager located in Northampton, UK.
Image: Wasdell acquires Honeywood to expand pharmaceutical packaging manufacturing business in UK. Photo: Courtesy of rawpixel from Pixabay.
The acquisition is expected to strengthen and expand the manufacturing and packaging capabilities of Wasdell to support its growing client portfolio in the UK.
In addition, the acquisition would bring additional experience into the Wasdell as Honeywood is being operated as a contract manufacturer to the pharmaceutical and healthcare industries for more than two decades.
Wasdell Group CEO Vincent Dunne said: “We are excited to announce the acquisition of Honeywood into the Wasdell Group. Expanding our current offering is the latest step in our ongoing strategic growth plans to meet rising demand for outsourced pharmaceutical services.
“By increasing our capacity and service offerings here in the UK, we will be able better service our growing client base in the US as they look to Wasdell to provide a fully outsourced supply chain for their products within Europe.”
The newly acquired site is also expected to help the company maintain its additional portfolio of nutraceutical customers.
The present acquisition follows the recent announcement of the company’s European headquarters in Dundalk, Ireland, a custom-built modern facility scheduled open later this month.
Wasdell Group chairman Martin Tedham said: “Honeywood caught our attention due to its synergies with the existing Wasdell operations. In particular, its oral liquid manufacturing capabilities will allow us to instantly increase capacity beyond our Newcastle upon Tyne facilty to meet customer requests.
“Customers will benefit from expanded services, capacity and continuity. Honeywood’s operations will easily integrate into our current operations, and we are looking forward to collaborating with the current owners and staff moving forward.”
On the transaction, Wilson Browne Solicitors has advised Honeywood.
In January 2018, Wasdell has announced the investment of £1m on serialisation technology to stay one step ahead in the fight to stop counterfeit drugs.
The new track and trace technology is expected to enable each pack produced at Wasdell to be serialised, tamper-proofed and aggregated at case and pallet levels.