Advent International to acquire a majority stake in Avra Laboratories for $100m.

Advent International, a private equity firm, agreed to acquire a majority stake in Avra Laboratories, an active pharmaceutical ingredients manufacturer, for $100m. “This acquisition is an important milestone towards our goal of creating a top five merchant API Platform in India and allows Advent to be present across the spectrum of generic and patented molecules, while adding marquee innovator pharma customers," Pankaj Patwari, Advent International India Managing Director.