Under Recipharm's ownership, Fontaine has developed extensive experience manufacturing and packaging tablets and capsules. The capabilities fit well with Astrea's ambitions to grow a broad range of different processing, filling and packaging technologies, as well as a wide geographical reach.

Astrea's owners are seasoned veterans in the CDMO industry and have the financial backing of the French long-term investment company Groupe Chevrillon, a family-owned business with a strong track record of investment in industrial and service companies.  

Marc Funk, CEO of Recipharm, said: "This divestment will help strengthen our financial position and we see it as a positive step in streamlining our operations and consolidating our position as a top five global Contract Development and Manufacturing Organisation. I am pleased that this business will get a committed owner with the capacity and capability to develop it to its full potential. We will continue to develop and invest in our highly successful contract manufacturing business." 

Elie Vannier, Chairman of Astrea Pharma, said: "We are happy to have made, as our first investment, the acquisition of a site with a great reputation for quality and service, the cornerstones of our values. We are confident that, with the excellent team in place, Astrea-Fontaine will be able to grow rapidly while satisfying our customers and bringing peace of mind to all. Our plans are to make this site a state-of-the-art facility and we will invest in people and equipment to reach our goal."  

For more information, please contact:
Marcus Smith, Head of Communications at Recipharm, marcus.smith@recipharm.com

About Astrea S.A.
Astrea was founded with the purpose of building a world class, customer focused CDMO, dedicated to driving efficiency and value in the pharma supply chain while delivering quality, OTIF and cost commitments to its customers. Astrea will continue to build its manufacturing network and service offering, with further targeted acquisitions, covering a broad range of technologies from Development to Commercial Supply, with finished dose OSD and Aseptic Manufacturing being key focus areas.

About Recipharm
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing almost 9,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, pharmaceutical product development and development and manufacturing of medical devices. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. Recipharm's annual turnover is approximately SEK 11 billion. The company operates development and manufacturing facilities in France, Germany, India, Israel, Italy, Portugal, Spain, Sweden, the UK and the US and is headquartered in Stockholm, Sweden.

For more information on Recipharm and our services, please visit www.recipharm.com