Charles River to Acquire Frontage Units for Up to $545 Million

Charles River Laboratories will pay $470 million upfront for Frontage Holdings’ bioanalysis and drug metabolism and pharmacokinetics operations, with up to $75 million more tied to performance milestones. The acquisition is intended to extend Charles River’s services into clinical bioanalysis and cover drug candidates through human trials.

November 9, 2026, 03:58 PM 381 0

The businesses accounted for about 40% of Frontage’s $256.7 million in revenue in 2025. Charles River said the acquisition is expected to be neutral to adjusted earnings per share in 2027 and accretive thereafter.

The transaction is being carried out through a consortium with Frontage controlling shareholder Tigermed and Frontage Chairman Song Li. The consortium plans to take the Hong Kong-listed company private before separating its laboratory facilities in Exton, Pennsylvania.

“The planned acquisition accelerates our strategy to expand our bioanalysis capabilities and enhance our offering in an attractive, high-growth market,” Chief Executive Birgit Girshick said. The deal is expected to close in the first half of 2027.

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