Fagron expands into Scandinavia
Waregem, 10 July 2008 – Arseus has reached agreement with Nomeco about the takeover of Unikem’s activities by means of an asset deal. Unikem is a division of Nomeco that has focused on selling pharmaceutical raw materials in Denmark and the rest of Scandinavia for over 200 years. Unikem supplies these raw materials to (hospital) pharmacies and the pharmaceutical industry. In 2007, Unikem achieved a double-digit EBITDA margin on turnover of approximately 3 million Euros. The transaction will be finalized at the end of July.
With this takeover of the activities of Unikem, Fagron will expand its operations into Scandinavia. The takeover is fully in line with Arseus’ ‘buy-and-build’ strategy, and will contribute to Fagron’s strategy to further expand its market leadership in pharmaceutical compounding in Europe. The introduction of the Fagron model and Fagron’s broad product range will strengthen Unikem’s market position in Scandinavia further.
Nomeco A/S is a subsidiary of Tamro OY, part of the German company Phoenix Group.
Arseus realised turnover of 304 million Euros in 2007 and saw turnover growth of 13% in the first quarter of 2008. The takeover of Unikem will support the strategic goal of achieving 500 million Euros in turnover by 2010, through a combination of organic and external growth. On 15 July 7:30 am, Arseus will publish the trading update over the second quarter of 2008.
This is a translation of the Dutch press release; the Dutch press release is leading.