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Sartorius to buy majority stake in Israel's Biological Industries

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Sartorius to buy majority stake in Israel's Biological Industries

Pharmaceutical equipment supplier Sartorius AG agreed to acquire just over 50% of the shares of Israeli cell culture media company Biological Industries Israel Beit Haemek Ltd. from its owners, Kibbutz Beit Haemek and private equity fund Fortissimo Capital, in a cash transaction worth approximately €45 million.

The deal also includes an option to acquire a further 20% of the shares within three years.

The transaction is set to be finalized by mid-December, subject to customary closing conditions.