Summary
Cencora, Inc. (formerly AmerisourceBergen Corporation) filed an 8-K on April 3, 2013, to announce the signing of a definitive agreement to sell its contract packaging business, AndersonBrecon Inc. and AndersonBrecon (UK) Limited, to an investor group led by Frazier Healthcare VI, L.P. The sale price is set at $308 million in cash, subject to customary adjustments. This divestiture aligns with the company's strategic focus and is expected to close in the third quarter of fiscal year 2013. Importantly for investors, the financial results of AndersonBrecon have historically been reported as discontinued operations. Consequently, this sale is not expected to impact Cencora's previously provided financial performance outlook for fiscal year 2013. Any gain realized from the sale will also be recorded within discontinued operations and excluded from the company's ongoing financial guidance, mitigating any immediate surprises to the company's core operational financial metrics.
Key Highlights
- 1Agreement to sell contract packaging business (AndersonBrecon) for $308 million in cash.
- 2Buyer is an investor group led by Frazier Healthcare VI, L.P.
- 3The transaction is subject to customary closing conditions, including regulatory reviews.
- 4Expected closing date is the third quarter of fiscal year 2013.
- 5AndersonBrecon operations are classified as discontinued operations, meaning the sale will not impact Cencora's reported fiscal 2013 financial performance expectations.
- 6Any gain on the sale will also be recognized within discontinued operations and excluded from ongoing financial guidance.