AmerisourceBergen Corp. has signed a definitive agreement to acquire World Courier Group, Inc., a privately held global specialty transportation and logistics provider, for $520 million in cash. The transaction, subject to customary closing conditions, is expected to close in 3Q12.
 
World Courier provides transportation, storage and distribution services for global biopharmaceutical clinical trials as well as other end markets. It will become a new operating segment within AmerisourceBergen. The acquisition expands AmerisourceBergen’s manufacturer services and commercialization support services with more than 137 offices, 13 GMP-compliant storage depots, and 2,500 employees in 52 countries. World Courier’s revenues are expected to be approximately $500 million in 2012.
 
“The acquisition of World Courier adds a new premium specialty service to our existing portfolio of market leading pharmaceutical manufacturer services,” said Steven H. Collis, AmerisourceBergen president and chief executive officer. “The addition of World Courier’s unique capabilities and expertise to our existing commercialization services further strengthens our offerings to global pharmaceutical manufacturers, and provides an established platform for the introduction of our specialty services outside North America.”
 
World Courier’s president, Wayne B. Heyland, will retain his role, reporting directly to Collis. “We are very pleased to bring our global expertise and decades of experience serving international biopharmaceutical manufacturers and CROs to AmerisourceBergen,” said Mr. Heyland. “Our shared values and similar cultures will ensure the smooth integration of our premium services, which will help both of our organizations take advantage of the tremendous growth opportunities that lie ahead, particularly in international markets. We are very excited to become an integral part of the largest specialty distribution and services provider in the world.”