Ajinomoto Co. Inc. reported the completion of a previously announced acquisition of Althea Technologies, a provider of biopharmaceutical development and manufacturing services.
According to a company statement, Ajinomoto acquired all the capital stock of Althea for a purchase price of approximately $175 million. Althea will become a fully consolidated subsidiary of Ajinomoto Co., Inc. operating under the company name Ajinomoto Althea, Inc.
Ajinomoto Co. is a global manufacturer of seasonings, processed foods, beverages, amino acids, pharmaceuticals, and specialty chemicals. Althea Technologies is a contract development and manufacturing organization located in San Diego, providing clinical and commercial product development services.