VION to Sell Banner Pharmacaps Business

The sale is the result of VION’s revised strategy which was announced on 15 June 2012 and involves the accelerated, vigorous implementation of various measures and investments.

30 Oct 2012 --- VION NV has entered into a definitive agreement to sell its company Banner Pharmacaps, which has its head office in High Point (NC) in the USA, to Patheon Inc., a leading provider of contract development and manufacturing services to the global pharmaceutical industry. The sales price is U.S. $255 million.

Patheon is a Canadian company with its U.S. headquarters in North Carolina. The sale is the result of VION’s revised strategy which was announced on 15 June 2012 and involves the accelerated, vigorous implementation of various measures and investments. VION companies that are no longer part of the company’s core activities will be disinvested. Banner Pharmacaps, a specialty developer and manufacturer of value added proprietary softgel capsules for the pharmaceutical industry, occupied an independent position within VION.

“Patheon shares many interfaces with Banner Pharmacaps’ field of activities and offers opportunities for further growth over the coming years. The sale of Banner is a strategic transaction for both organizations,” said Peter Beckers, Chairman of the Board of Directors of Banner Pharmacaps and Member of the Executive Board of VION N.V. “It allows VION to focus on its core business of food and ingredients, while aligning Banner with a global company that is known for its focus on quality and customer service in the pharmaceutical industry. We are convinced that this transaction represents the best outcome for Banner’s customers, partners and for our people, who will benefit from the scale opportunities of being a part of an organization such as Patheon.”

VION N.V. is an internationally operating food company with two core activities: Food and Ingredients. The group produces high-quality foodstuffs for humans and animals. VION's turnover is €9.5 billion and the company employs 26,500 staff. VION is not a listed company and has one shareholder, the Dutch Zuidelijke Land- en Tuinbouworganisatie (ZLTO), an agricultural and horticultural association with some 18,000 members. The VION head office is in Eindhoven, the Netherlands.

Patheon Inc. is a leading global provider of contract development and manufacturing services to the global pharmaceutical industry. The company provides the highest quality products and services to approximately 300 of the world's leading pharmaceutical and biotechnology companies. Patheon’s services range from preclinical development through commercial manufacturing of a full array of solid and sterile dosage forms.

The company's comprehensive range of fully integrated Pharmaceutical Development Services includes pre-formulation, formulation, analytical development, clinical manufacturing, scale-up and commercialization. The company's integrated development and manufacturing network of nine manufacturing facilities and nine development centers across North America and Europe, enables customer products to be launched with confidence anywhere in the world.