BCM, the Nottinghamshire based Boots’ health and beauty contract manufacturing business has been officially taken by French company Fareva.
As revealed earlier this year, Boots’ parent company Walgreens Boots Alliance revealed it had struck up a ten-year agreement with Fareva for the “manufacture and supply of own beauty brands and private label products, including products for sale in the USA”.
Now, Walgreens has said the partnership has officially started.
The Walgreens statement said: “Walgreens Boots Alliance announced that it has commenced its previously announced partnership with Fareva for the manufacture and supply of own beauty brands and private label products.
“Under the terms of the agreement, Fareva has acquired BCM, Walgreens Boots Alliance’s contract manufacturing business, which operates factories in the UK, France and Germany.”
Fareva manufactures in 11 countries, including the USA.
The proposed agreement, which is subject to Works Council consultation and regulatory approval, is expected to be completed by the end of 2017.