HONG KONG (dpa-AFX) - Charles River Laboratories International, Inc. (CRL) announced Monday that it has entered into definitive agreements to acquire Hong Kong-based Frontage Holdings Corp.'s bioanalysis and DMPK operations in Exton, Pennsylvania for approximately $470 million in cash, subject to customary closing adjustments.
In addition to the initial purchase price, the transaction includes additional payments of up to $75 million, contingent on future performance of the acquired businesses.
The planned acquisition will expand Charles River's capabilities in the high-growth clinical bioanalysis sector and enhance its ability to support clients from early-stage research through clinical development.
The transaction complements Charles River's existing strength in preclinical bioanalysis primarily for biologics and complex modalities, while adding scale and capacity to support future growth.
It also complements Charles River's ongoing investments in its bioanalysis capabilities, including capacity additions, positioning the Company to capitalize on attractive long-term growth opportunities.
The acquisition and associated fees are expected to be financed through Charles River's credit facility and available cash. The acquired businesses are expected to be reported as part of Charles River's DSA segment.
The transaction is expected to close during the first half of 2027, subject to required shareholder and regulatory approvals, and other customary closing conditions.
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