In a move to accelerate its global product strategy, Walgreens Boots Alliance, Inc. has announced a binding offer from Fareva for a 10-year global agreement for the manufacture and supply of its own beauty brands and private label products, including products for sale in the U.S. The proposed agreement will create a partnership to provide Walgreens Boots Alliance with a core multinational manufacturing and development resource.

Under the terms of the offer, Fareva will take ownership of BCM, Walgreens Boots Alliance’s contract manufacturing business, which operates factories in the UK, France and Germany.

Fareva manufactures in 11 countries, including the U.S., and has significant R&D capabilities. The proposed agreement is expected to be completed by the end of this year.