International law firm Simmons & Simmons has acted for global consumer healthcare company Venture Life Group PLC (VLG) on the divestment of its contract development and manufacturing operations (CDMO) business.
VLG – which develops and sells innovative self-care products in over 90 countries – has sold its CDMO operations to BioDue, an Italian portfolio company of private equity firm The Riverside Company.
The divestment from VLG will enable a streamlining of the company’s operations, supporting the commercialisation, growth, and development of its higher margin core brands.
The Simmons team advising VLG on its divestment was led by Isabella Roberts, partner in the firm’s corporate group in London, supported by Supervising Associate Sharikh Gilani. They were also supported by a cross-border, cross-practice team, including in Milan, and in IP and digital business practices in London.
Isabella Roberts commented: “This is a strategically important divestment for VLG which will support its long-term growth ambitions in the global consumer healthcare sector. It was a complex deal involving a multidisciplinary effort from a cross-border team. Our transactional expertise coupled with our deep experience in the healthcare and life sciences sector was essential to securing this positive outcome.”
