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.”
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Reynolds CC dedicates student center


Reynolds Community College recently celebrated the dedication of the Jerry and Mary Owen Student Center, named for longtime supporters of the college who have made numerous investments in it.

Jerry Owen served on the Reynolds College Board from 1984 to 1988, and he and his wife support the college’s scholarship fund and created an endowment for the Reynolds Middle College, which helps students earn a high school equivalency and transition into a degree or workforce credential program. > Read more.

Capital One sponsors ‘Coders Experience’


Capital One hosted its “Coders Experience” event in Richmond and a number of other state locations Oct. 14. The events attracted hundreds of middle school girls, who learned how to create their own mobile apps, hone problem-solving skills and gain software development knowledge. A second day of Coders Experience events will take place Oct. 21. More than 500 Capital One volunteers are participating in the 10 events. > Read more.

Hermitage band member named All-American


The U.S. Army All-American Bowl Presented by American Family Insurance Selection Tour will visit Hermitage H.S. Oct. 19 to recognize Truman Chancy as a 2018 U.S. Army All-American. Hermitage High School will honor Chancy before his classmates, bandmates, family and friends at the high school’s band room during band practice, and he will be presented with his honorary All-American Marching Band jacket. > Read more.

Crime Stoppers’ Crime of the Week: Oct. 16, 2017


This week, Metro Richmond Crime Stoppers is asking for the public to assist the Richmond Police Department in the identification of wayward artists that were using buildings as their canvas.

In the early morning hours of Sept. 14, four people were recorded on security cameras vandalizing multiple properties in the area of the 2500 blocks of West Main Street and Floyd Avenue. The suspects (pictured) were walking north on Robinson Street and spray painting the properties as they meandered along. > Read more.

Slipping through


Hermitage quarterback Jay Carney escapes defenders during the Panthers' 33-0 win against Godwin Friday night. Hermitage is 8-0 and has won its past four games by a combined score of 172-28. > Read more.

Henrico Business Bulletin Board

October 2017
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