PAG yesterday announced that it has reached an agreement to acquire a controlling stake in Acme Formulation. It will invest approximately $145 million to acquire a controlling stake in the company, a statement said.
Speaking on the occasion, Nikhil Srivastava, Partner and Managing Director, Head of India private equity, PAG, said, “Acme has a great reputation for high-quality manufacturing, as well as a leading presence in attractive markets including sterile injectables. We are excited to partner with Acme to further accelerate the company’s growth.”
Following the Acme acquisition, PAG will have completed investments of more than half a billion dollars in India, the statement added.
Viral Shah, founder, CEO and Managing Director, Acme, said, “Acme’s success so far has been built on three principles: our focus on innovation, our commitment to customer service, and our ability to meet the highest international standards for quality manufacturing. PAG, with its track record in pharmaceutical investments, is the ideal partner to help Acme grow even further in the years ahead.”
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