Operating from facilities in 30 countries worldwide, Chr. Hansen is a global biotechnology company that provides ingredients to the food, dairy, human health and nutrition, and animal health industries. Following its acquisition by PAI Partners in 2005, Chr. Hansen determined that its Excipients & Coating Division no longer fitted with its growth strategy.

Chr. Hansen engaged Grace Matthews, Inc. to divest the Division, including its state-of-the-art facility in Stoughton, Wisconsin, and its coatings, compressible sugar, compressible calcium carbonate, and sugar spheres product lines. The business was sold to Colorcon Inc., a global leader in the development, supply, and support of formulated products for the pharmaceutical and nutritional industries.