VALLEY FORGE, Pa.--(BUSINESS WIRE)--May 22, 2003--
AmerisourceBergen Corporation (NYSE:ABC) the largest pharmaceutical
services company in the U.S. dedicated solely to the pharmaceutical
supply channel, today announced that it has signed a definitive
agreement to purchase Anderson Packaging, Inc., a privately held
contract pharmaceutical packaging company, for approximately $100
million, including assumed debt.
The purchase price will be subject to certain adjustments to be
determined as of the closing of the transaction. The transaction is
expected to close in early summer, subject to regulatory approvals.
Known for its high quality, Anderson Packaging is a leading
provider of physician samples and retail contracted packaging services
to pharmaceutical manufacturers. Anderson Packaging estimates revenues
in calendar year 2003 of between $85 million and $90 million.
AmerisourceBergen expects the purchase to be mildly accretive to the
Company's fiscal year 2004 earnings.
AmerisourceBergen has agreed to issue 814,145 shares of its common
stock upon the closing of the transaction in partial payment of the
purchase price. The remainder of the purchase will be funded using
cash.
"We could not be more excited about the contribution that Anderson
Packaging will make to the ongoing expansion of the services
AmerisourceBergen offers manufacturers," said R. David Yost,
AmerisourceBergen's Chief Executive Officer. "Anderson Packaging
brings a strong reputation for the highest quality standards in
contract packaging and will be a significant addition to
AmerisourceBergen's total packaging capability, which also includes
our American Health Packaging unit."
"Joining AmerisourceBergen will provide Anderson Packaging the
resources and relationships to continue to expand its position in the
contract packaging marketplace," said John Anderson, Chairman and
founder. "I am pleased that Anderson Packaging will be joining a
company that is committed to the quality and performance excellence
that has always been a part of the Anderson culture. Being part of the
AmerisourceBergen team will benefit our employees and the community as
the Company continues to grow."
The shares of common stock that AmerisourceBergen has agreed to
issue upon the closing of the transaction have not been registered
under the Securities Act of 1933 and may not be offered or sold in the
United States absent registration or an applicable exemption from
registration.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy such shares in any jurisdiction in
which such an offer or sale would be unlawful.
William Blair & Company, L.L.C. acted as financial advisor to
Anderson Packaging in this transaction.
About Anderson Packaging
Anderson Packaging is one of the leading contract pharmaceutical
packaging companies providing physician samples and retail contract
packaging services to pharmaceutical manufacturers. Headquartered in
Rockford, Illinois, Anderson has seven facilities in the U.S. and
approximately 1,000 employees.
About AmerisourceBergen
AmerisourceBergen (NYSE:ABC) is the largest pharmaceutical
services company in the United States dedicated solely to the
pharmaceutical supply chain.
It is the leading distributor of pharmaceutical products and
services to the hospital systems/acute care market, physician's
offices, alternate care and mail order facilities, independent
community pharmacies, and regional chain pharmacies. The Company is
also a leader in the long term care pharmacy and workers' compensation
fulfillment marketplaces.
With more than $40 billion in annualized operating revenue,
AmerisourceBergen is headquartered in Valley Forge, PA, and employs
more than 13,000 people. AmerisourceBergen is ranked #24 on the
Fortune 500 list and was ranked #6 in the 2003 Business Week 50, a
list of the 50 best performing companies in the S & P 500. For more
information, go to www.amerisourcebergen.com.
Forward-Looking Statements
This news release may contain certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances.
Actual results may vary materially from the expectations contained
in the forward-looking statements. Forward-looking statements may
include statements addressing future financial and operating results
of AmerisourceBergen and the benefits and other aspects of the 2001
merger between AmeriSource Health Corporation and Bergen Brunswig
Corporation.
The following factors, among others, could cause actual results to
differ materially from those described in any forward-looking
statements: competitive pressures; the loss of one or more key
customer relationships; customer insolvencies; changes in customer
mix; changes in pharmaceutical manufacturers' pricing and distribution
policies; regulatory changes; changes in U.S. government policies;
failure to integrate the businesses of AmeriSource and Bergen Brunswig
successfully; failure to obtain and retain expected synergies from the
merger of AmeriSource and Bergen Brunswig; and other economic,
business, competitive, regulatory and/or operational factors affecting
the business of AmerisourceBergen generally.
More detailed information about these factors is set forth in
AmerisourceBergen's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for fiscal 2002.
AmerisourceBergen is under no obligation to (and expressly
disclaims any such obligation to) update or alter any forward looking
statements whether as a result of new information, future events or
otherwise.
CONTACT: AmerisourceBergen Corporation
Michael N. Kilpatric, 610/727-7118
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation