DEERFIELD, Ill. — Walgreens Boots Alliance has entered into a 10-year global agreement with Fareva for the manufacture and supply of own brand beauty and private label products, including those for sale in the United States.
"The proposed agreement will create a partnership to provide Walgreens Boots Alliance with a core multinational manufacturing and development resource, enabling the company to accelerate its global product strategy," Walgreens Boots Alliance stated.
Under the terms of the offer, Fareva will take ownership of BCM, Walgreens Boots Alliance’s contract manufacturing business, which operates factories in the U.K., France and Germany.
Citing “significant research and development capabilities,” Fareva manufactures in 11 countries, including the United States. The proposed agreement, which is subject to Works Council consultation and regulatory approval, is expected to be completed by the end of calendar year 2017.