Plettenberg / Munich / Halden, 1st March 2024 – The Prange Group and its affiliate Adragos Pharma, one of Europe’s fastest growing CDMOs, has completed the acquisition transaction of Fresenius Kabi production site in Halden, Norway – a leading sterile pharmaceutical manufacturing unit. This strategic move opens the door to considerable new opportunities for growth.
This acquisition marks a major milestone for both the Prange Group and Adragos Pharma on the road to expanding their global presence and adding significant capacity for sterile liquid manufacturing.
The Halden site, situated at a strategic crossroads in Norway, is one of the largest and most advanced sterile production facilities in Northern Europe. Its state-of-the-art capabilities include the production of sterile liquids, as IV bags, blow-fill-seal technology for ampoules and vials but also compounding activities for the local market. The site was not only a cornerstone of Fresenius Kabi’s manufacturing capabilities in the Nordics, but has already catered to other large pharma customers as a contract manufacturer supplying over 70 countries worldwide.
The Prange Group is a leading German family business with a long track record of successfully investing in and growing pharmaceutical companies and CDMOs. It is invested in Adragos Pharma from its inception and remains a cornerstone shareholder, reflecting its long-term commitment to the sector.
Otto Prange, Chairman and Owner of the Prange group added: “We appreciate Fresenius Kabi for trusting in our Group as being the right partner for building the future of the Halden site. Together with the experienced Halden team, we will introduce new customers who can rely as well as Fresenius and the other big pharma customers on our full commitment for reliable, global supply”.
“I’m pleased that we have been able to conclude this process and that the Prange Group will now be able to develop the plant and act on their credible and solid business plan,” says Dr. Hans-Christian Meyer, Head of Operations Management Pharma at Fresenius Kabi.
Dr. Andreas Raabe, Adragos Pharma’s CEO, commented on the acquisition, “In joining forces with Prange Group, we’re strategically advancing towards a shared commitment to deliver quality and reliability on a global scale, benefitting both customers and patients. This acquisition is set to unlock new potential, amplifying the site’s capabilities, and showcasing the remarkable expertise of its dedicated workforce. Through the acquisition, we aim to foster growth and innovation.”
Adragos Pharma has gained attention as Europe’s fastest-growing CDMO and has received several awards in recent years. Central to Adragos Pharma’s growth is a strong emphasis on customer centricity and a focus on the highest manufacturing standards from production sites in Europe and Japan.
Detailed terms of the transaction will not be disclosed.
About Prange Group:
The Prange Group is a leading family business with majority ownership in more than 60 companies across eight countries and several industry sectors including pharma, healthcare, IT, data science and metal processing. The group was built by Otto Prange with a typical German “Mittelstand” (SME) mentality and as such takes a deep interest in social and pro-bono engagements in the local community and is an advocate of sustainable and healthy growth.
About Adragos Pharma:
Adragos Pharma is a globally operating CDMO with headquarters in Munich, Germany. Its declared goal is to expand its existing production network through acquisitions in Europe, North America and Japan to attain a globally leading position within the next few years and set new standards in customer service and data centricity. In its buy-and-build growth strategy, Adragos Pharma is supported by FSN Capital, a leading Scandinavian investment firm, and the Prange Group, a diversified leading German family business. Adragos Pharma currently operates three production sites in France, Germany and Japan, and a development center in Greece.