Avantor, a chemical products manufacturer in Center Valley, has agreed to purchase Radnor’s VWR for $6.4 billion, writes John George for the Philadelphia Business Journal.

With more than 10,000 employees around the globe, VWR generated sales of $4.5 billion last year. The company distributes close to 1.2 million products to approximately 250,000 companies and educational and research institutions.

Under the terms of the agreement, Avantor will pay the Delaware County company’s shareholders $33.25 per share, a 17 percent premium over VWR’s closing price on May 2.

“Given the changing dynamics in the highly fragmented and diverse life sciences sector, we believe that combining Avantor’s advanced materials and solutions with VWR’s unparalleled distribution capabilities and breadth of offerings represents a compelling value proposition,” said Manuel Brocke-Benz, President and CEO of VWR.

He added that he believes the acquisition will create a highly differentiated organization, uniquely positioned to serve the ever-growing needs of laboratory and production customers around the world.

Avantor officials also emphasized that the acquisition of VWR will create great opportunities for the combined companies.

“Avantor’s acquisition of VWR is both highly compelling and complementary,” said Avantor’s CEO, Michael Stubblefield.

The deal has already been approved by both VWR’s and Avantor’s boards, and is awaiting regulatory approval.

Read more about the acquisition in the Philadelphia Business Journal by clicking here.