EBRD invests €24 million in Famar in Greece

• EBRD equity investment of €24 million in Famar in Greece
• The EBRD will support the acquisition from current owners, alongside MidEuropa and other investors
• The EBRD's investment will support the company's expansion plans and R&D activities

The European Bank for Reconstruction and Development (EBRD), alongside MidEuropa and other investors, is supporting, with an equity investment of €24 million, the acquisition in Greece of Famar, a leading pharmaceutical contract development and manufacturing organisation (CDMO).

The EBRD's investment will support Famar's ambitious growth plans, including the expansion of its production capacity and research and development (R&D) facilities in Greece.

Headquartered in Greece and with production sites in Greece, Italy and Spain, Famar is a leading pharmaceutical CDMO, focusing on the manufacturing and distribution of a wide range of pharmaceutical, consumer health and cosmetic products.

Under the new ownership, Famar plans to make substantial investments in Greece to expand both its R&D and sterile manufacturing capabilities, among others, as the company continues to shift its product mix towards higher-value-added products.

The EBRD started operating in Greece on a temporary basis in 2015 to support the country's economic recovery. To date, the Bank has invested more than €7.9 billion in 115 projects in the corporate, financial, energy and infrastructure sectors of the Greek economy.