Fareva to purchase Pfizer plant in Henrico

Fareva, a privately-held international contract manufacturing firm that operates in four business segments—homecare and industrial, cosmetics, pharmaceuticals, and food, will acquire and invest $42 million in Pfizer’s consumer products manufacturing site on Darbytown Road in Eastern Henrico County, state and local officials announced this morning. Fareva will continue to operate the facility, which manufactures and packages brand-name products such as Advil, Chapstick and Robitussin.

Pfizer and Fareva also have reached a manufacturing and supply agreement that will enable the plant to continue production of Pfizer consumer products for the global marketplace. All of the nearly 500 Pfizer colleagues that are employed at the site will transfer to Fareva, and an additional 90 positions will be added.

“Fareva’s acquisition of the Pfizer plant and retention of approximately 500 jobs is tremendous for Henrico County and the Commonwealth," Gov. Bob McDonnell said. "This project is also significant because well-known Pfizer products will continue to be manufactured at the facility as Fareva expands into the North American market with its first U.S. site.”

“We are thrilled that Pfizer and Fareva were able to strike this agreement and both retain and expand the Henrico County manufacturing plant,” said Jim Cheng, Virginia Secretary of Commerce and Trade. “I look forward to the inevitable growth of this partnership that builds on Pfizer’s brand success while opening Fareva to the U.S market.”

Headquartered in Luxembourg, Fareva employs 5,500 colleagues and reported $1.2 billion in revenues in 2010. The company operates 28 manufacturing facilities in Europe and emerging markets.

Speaking about the pending acquisition, Fareva’s Chief Executive Officer Bernard Fraisse stated, “We have been looking for the right opportunity to expand our manufacturing footprint into North America and establish our pharmaceutical and cosmetics businesses in the United States. The Henrico County site has a talented and motivated workforce and state-of-the-art manufacturing, packaging and warehousing facilities that are a perfect fit for growing our commercial portfolio in this region.”

The Virginia Economic Development Partnership worked with Henrico County to secure the project for Virginia. McDonnell approved a $650,000 grant from the Governor’s Opportunity Fund to assist Henrico County with the project. McDonnell also approved an $800,000 performance-based grant from the Virginia Investment Partnership (VIP) program, an incentive available to existing Virginia companies. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance will provide funding and services to support the company’s recruitment, training and retraining activities.

“Henrico County is very pleased to welcome another international company to our community,” said Frank Thornton, chairman of Henrico County Board of Supervisors. “We are grateful to Fareva for acquiring this plant and saving important jobs, and we look forward to partnering with the company as they add additional jobs and investment. Their plan to diversify the plant’s product mix by adding cosmetics is a real plus.”
Bail Bonds Chesterfield VA

Henrico promotional company changes name


Henrico-based brand merchandising company NewClients, Inc. has changed its name to Boost Promotional Branding.

The company is one of the nation's largest in the branded merchandise industry. Founded in 1981, its serves more than 5,000 clients – including many Fortune 500 companies – nationwide. > Read more.

Lidl competition offers shoppers chance to win NYC trip


Three Lidl shoppers will win trips to New York City to receive a first-look at the Esmara by Heidi Klum collection and attend an international runway event debuting the collection. The contest is open to residents of Virginia, North Carolina and South Carolina – the three states in which Lidl currently operates grocery stores. The chain opened two stores in Henrico County last month. > Read more.

Glen Allen advances in 14U Babe Ruth World Series


The Glen Allen Babe Ruth Baseball League 14-year-old all-star team advanced to the single-elimination round of the 14-year-old World Series, which the Glen Allen Youth Athletic Association is hosting at RF&P Stadium in Glen Allen. > Read more.

Earnhardt gives Redskins a ride


Dale Earnhardt Jr., driver of the Hendrick Motorsports No. 88, stopped at Richmond Raceway Aug. 8 in advance of the track’s NASCAR weekend in September. He was joined by five players from the Washington Redskins, who were in town for the team's training camp, which concluded Aug. 14. The day in Richmond gave Earnhardt and the Redskins players an opportunity to see how the athletes compete in their respective sports. > Read more.

READ Center a finalist for $25k grant


The READ Center is a top-200 cause finalist in State Farm’s Neighborhood Assist program, making it eligible to earn a $25,000 grant to support adult literacy in the Richmond region. The 40 organizations from across the nation with the most votes will win grants.

The READ Center, based in Henrico, provides classroom instruction and one-to-one tutoring to adults with very low literacy. > Read more.

Henrico Business Bulletin Board

August 2017
S M T W T F S
·
·
27
·
·

Calendar page

Classifieds

Place an Ad | More Classifieds

Calendar

The Henrico Teen Theatre Company will present “Simply Cinderella” at 10 a.m. and 2 p.m. Aug. 2-5 at The Cultural Arts Center at Glen Allen. Overworked Cinderella swings her broom at the Fairy Godmother, thinking she’s a giant moth. Meanwhile, the Queen wants the Prince to choose a suitable bride, but he would rather play video games than dance with a girl. Admission is free. To reserve a seat, call 501-5859. Full text

Your weather just got better.

Henricopedia

Henrico's Top Teachers

The Plate