Walgreens Boots Alliance has signed a ten year deal with cosmetics manufacturer Fareva.
The new agreement means the French supplier, which employs nearly 10,000 employees worldwide, will create own-brand beauty and private label products for Walgreens Boots Alliance.
“The proposed agreement will create a partnership to provide Walgreens Boots Alliance with a core multinational manufacturing and development resource, enabling the company to accelerate its global product strategy,” Walgreens Boots Alliance said in a statement.
Details of the deal were undisclosed, but Fareva will take ownership of Boots Contract Manufacturing (BCM), Walgreens Boots Alliance’s contract manufacturing business.
Headquartered in Nottingham, UK, BCM currently produces Boots’ private label brands including No7, Botanics and Seventeen, as well as manufactures products for third party brands.
The proposed agreement, which is subject to Works Council consultation and regulatory approval, is expected to be completed by the end of 2017.
