One of the largest mergers or acquisitions in the past year brought a new corporate citizen to southeastern Wisconsin and with it, billions of dollars in additional planned investment. Indianapolis-based pharmaceutical giant Lilly paid $924.7 million, net of cash acquired, to acquire the entities that owned the 100,000-square-foot Nexus Pharmaceutical facility in Pleasant Prairie, according to securities filings. The price included $108.5 million for property and equipment and $816.5 million for goodwill, attributed to “the synergies between the manufacturing capabilities of the site and our products as well as the assembled workforce of the site.” The deal was announced in April. In December, Lilly announced plans for a $3 billion expansion in Pleasant Prairie to bolster injectable product manufacturing.
Other M&A deals during the year included recognizable names and a number of startups that garnered significant attention in recent years. Here is a sampling of some of the major deals covered by BizTimes in the past year:
- Stevens Point-based Sentry Insurance acquired The General from Madison-based American Family Insurance in a $1.7 billion deal.
- Milwaukee-based Klement’s Sausage Co. was acquired by Chicago-based Amylu Foods, a manufacturer of fully cooked chicken products, for an undisclosed price, from Houston-based Tall Tree Foods, which purchased Klement’s back in 2014.
- Milwaukee-based Bright Cellars, a wine subscription service that uses AI to make personalized recommendations to customers, was acquired by Los Angeles-based Full Glass Wine Co. for an undisclosed price.
Read more at the BizTimes.com.