Colorcon bolsters portfolio with acquisition of Airnov Healthcare Packaging

FRANCE – UK-based film coatings and specialty excipients provider Colorcon has closed the acquisition of French Airnov Healthcare Packaging from private equity firm Arsenal Capital Partners for an undisclosed amount.

Airnov supplies controlled atmosphere packaging for the pharmaceutical, nutraceutical and diagnostic industries.

The company provides customizable drop-in products such as canisters and packets, as well as integrated desiccant systems and plastic bottles that feature oxygen barrier materials.

Airnov operates manufacturing facilities in the US, France, China and India, employing around 700 people in total.

Colorcon CEO Simon Tasker said: “Airnov’s capabilities are a strong complement to Colorcon’s existing portfolio.

“Our partnership expands our platform of stability and moisture management solutions from core to coatings to in-package offerings.

“This acquisition reflects Colorcon’s goal to invest in innovative solutions that help developers of health and wellness products increase speed to market, improve quality and enhance their competitiveness.”

The deal was expected to close in the first quarter of this year if approved by the French Works Council and other relevant regulatory bodies.

It is part of the company’s efforts to improve convenience, compliance and safety in the health and wellness sector.

Airnov president and managing director Matthias Brommer added: “We are excited about the opportunity to further accelerate the growth of Airnov by leveraging Colorcon’s global supply and service infrastructure.”

Based in Dartford, Colorcon provides specialty ingredients and formulated film coating systems for the pharmaceutical, nutritional and animal healthcare industries.

The company operates 11 manufacturing facilities and 25 technical service laboratories worldwide, employing around 1,400 colleagues.

Meanwhile, in 2021, Colorcon acquired a majority stake in Ideal Cures Pvt. Ltd., a manufacturer of excipients and ready-to-use coating systems for solid oral dosage forms located in India.

The acquisition of Ideal Cures underscores the importance of India in the pharmaceutical sector by providing an expanded service network of manufacturing and technical capabilities, especially for the remotely located economic zones in North India.

Ideal Cures now operates as a fully independent entity within Colorcon.  Their business complements Colorcon’s position in the Indian pharmaceutical market with a strong presence in the domestic generic sector comprised of long-standing customer relationships sustained by innovative and customized solutions.

Additionally, the growth of the domestic nutritional market driven by the consumer-led health and wellness trend in emerging markets is supported, targeting ayurvedic (Indian traditional medicines) and herbal supplements.

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