Walgreens Boots Alliance partnership for own beauty brand manufacture begins
The agreement means Fareva has acquired BCM (previously Boots Contract Manufacturing), Walgreens Boots Alliance’s contract manufacturing business, which operates factories in the UK, France and Germany.
The long-term, global supply agreement has now commenced between Walgreens Boots Alliance and Fareva, the companies confirm.
Reassurance of continued operations
Reportedly the agreement is due to last 10 years, and Walgreens Boots Alliance has spoken to reassure BCM employees that the partnership will benefit the now Fareva-owned company.
Speaking to the Nottingham Post in the UK, Stefano Pessina, chief executive of WBA, said: "I strongly believe that our partnership with Fareva opens a new and exciting chapter in our company’s history.
“We selected Fareva as our manufacturing partner after a long and rigorous process, as you can imagine. They are one of the biggest contract manufacturers in the world.”
The company head predicts the international profile of Fareva will serve BCM well in the coming period.
“Maintaining the highest standard of quality for our products was a key factor in this decision. Fareva already works with some of the biggest and best international pharma and beauty brands,” he said.
“This is why we are confident that BCM will become part of an ambitious, specialised global contract manufacturer that not only has a track record of growing revenues but, even better, of investing in businesses and innovation.”
Spotlight on: Wallgreens Boots Alliance
Walgreens Boots Alliance is one of the largest retailers for pharmacy, health and daily living products across the U.S. and Europe.
The company (including those companies in which it has equity method investments) has a presence in more than 25 countries and employ more than 385,000 people, it says.
The company’s portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as increasingly global health and beauty product brands, such as No7, Soap & Glory, Liz Earle, Sleek MakeUP and Botanics.
