<article>South Korean conglomerate <a href="https://www.dealstreetasia.com/tag/SK-Holdings">SK Holdings </a>has agreed to acquire US-based Contract development and manufacturing organization (CDMO) AMPAC Fine Chemical (AFC), the latter announced in a statement.</article>

South Korean conglomerate <a href="https://www.dealstreetasia.com/tag/SK-Holdings">SK Holdings </a>has agreed to acquire US-based Contract development and manufacturing organization (CDMO) AMPAC Fine Chemical (AFC), the latter announced in a statement.
The deal marks an exit for previous owner, global private equity firm <a href="https://www.dealstreetasia.com/tag/H.I.G.-Capital-llc/">H.I.G. Capital</a>, under whom the US company has seen significant business development and expansion, including the acquisition of state-of-the art plant in Petersburg, VA, and enhancement of its its product pipeline.
SK is purchasing AFC due to its unique capabilities, world class facilities, excellent reputation, outstanding people and great growth potential. AFC is SK’s sole CDMO operation in the US and will play a crucial part in SK’s development as a global leader in pharma manufacturing.
Commenting on the acquisition, AFC CEO Aslam Malik said: “SK and AFC are highly complementary and with SK’s strong presence in Europe and Asia, we will be able to provide our customers a much broader portfolio of offerings including a global supply chain. Together we will achieve SK’s goal of becoming a global, top-tier CDMO”.
The investments in AFC marks SK Holdings’ effort to enhance its portfolio value by executing long-term strategic investments in various business areas, including energy and chemicals, information and telecommunication, and semiconductors.
Earlier this year in May, SK was reportedly in contention to buy a 44.72 per cent stake in PetroVietnam Oil Corp. Before that, the group also emerged one of the investors in the $2 billion Series G funding round raised by Southeast Asian ride-hailing giant Grab.
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South Korean conglomerate SK Holdings has agreed to acquire US-based Contract development and manufacturing organization (CDMO) AMPAC Fine Chemical.

Korean conglomerate SK Holdings acquires US-based AMPAC Fine Chemical

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Korean conglomerate SK Holdings acquires US-based AMPAC Fine Chemical

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