NEW YORK, Jan. 18 (GenomeWeb News) - Sigma-Aldrich will acquire JRH Biosciences, a division of CSL Limited, for $370 million in cash, the company said today.
JRH, headquartered in Lenexa, Kan., supplies cell culture and sera products to the biopharmaceutical industry. It had approximately $150 million in sales in 2004, and was expecting a 10-percent growth in this figure in 2005, Sigma said.
JRH also has manufacturing facilities in the US, Europe, and Australia; and serum collection and processing centers in the US and Australia. It has approximately 400 employees worldwide.
Sigma said that it expects to fund the acquisition with a combination of existing cash, short-term debt, and three-year term debt.
Goldman Sachs acted as financial advisor on the transaction.