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Deerfield, Ill.-based Walgreens Boots Alliance said today that it is entering into a 10-year global agreement with Fareva Group for the manufacture and supply of private brand beauty and other products, including items for sale in the United States. Headquartered in Tournon-sur-Rhône, France, Fareva is a contract manufacturer of cosmetics, pharmaceuticals and household products with production facilities in 11 countries, including the U.S.
Under the terms of the offer, Fareva will take ownership of BCM, Walgreens Boots Alliance’s contract manufacturing business, which operates factories in the United Kingdom, France and Germany.
The proposed agreement, which is subject to regulatory approval, is expected to be completed by the end of calendar year 2017.