Waregem (Belgium) / Rotterdam (the Netherlands)[1], 20 December 2012 -Arseus announces today that it has signed an agreement to acquire B&B Pharmaceuticals (www.bbpharm.net). B&B Pharmaceuticals,incorporated in 1997 and located in Aurora (Colorado), supplies controlled substances and pharmaceutical raw materials for pharmaceutical compounding to pharmacists in the United States. In 2012, B&B Pharmaceuticals’ turnover is expected to be approximately US$ 6 million, with an EBITDA margin above the average for the Fagron Group. Fagron paid a multiple of 5.5 times EBITDA for this acquisition. B&B Pharmaceuticals will be consolidated as of 1 December 2012.
The range of B&B Pharmaceuticals’ products fully complements Fagron’s existing activities in the United States. By combining the activities of B&B Pharmaceuticals and Fagron, Fagron will be able to achieve clear benefits, not only in the areas of purchasing, analysis and production, but particularly in the areas of innovation and product assortment. From its offices in Aurora, St. Paul and Scottsdale, Fagron will be even better positioned to provide pharmacists in the United States with innovative concepts and products for pharmaceutical compounding.
Ger van Jeveren, CEO of Arseus and Fagron: ‘We are delighted to welcome B&B Pharmaceuticals to the Fagron Group. This acquisition is a perfect match for our strategy of further extending Fagron’s already strong market position in the United States.’
Jason Dassinger, former owner of B&B Pharmaceuticals: ‘I am convinced that B&B Pharmaceuticals is an excellent match for Fagron. As a global market leader, Fagron is at the forefront of everything that has to do with pharmaceutical compounding. Our clients will benefit from the innovative and extensive range of products and concepts for pharmaceutical compounding offered by the Fagron Group. I’m greatly looking forward to making a contribution to the further growth of both B&B Pharmaceuticals and the Fagron Group after the acquisition.’
Buy-and-build strategy
Fagron wants to further strengthen its market leadership in the rapidly growing market for pharmaceutical compounding through an active buy-and-build strategy and robust organic growth. In 2013, the emphasis will be on acquisitions in Europe, as well as in North and South America.
Conference call
Today, Ger van Jeveren (CEO) will be providing further information about the acquisition of B&B Pharmaceuticals in a conference call. The conference call starts at 9:30 CET. You can join from 09:15 CET onwards by calling +31 10 713 72 95 (Netherlands) or +32 24 01 52 59 (Belgium).
From 10:30 onwards, the conference call may be listened to by calling telephone number +31 20 713 34 87 and typing in access code 418005#. From 21 December, the conference call may be listened to or downloaded from the corporate website of Arseus (www.arseus.com).
[1] This press release was sent out by Arseus NV and Arseus BV.
For more information:
Constantijn van Rietschoten
Director of Corporate Communications
+31 88 33 11 222 (Office)
+31 6 536 91 585 (Mobile)
constantijn.van.rietschoten@arseus.com
In the event of any discrepancy between the English translation and the original Dutch version of this press release, the latter shall prevail.
Arseus profile
Arseus is a multinational group of companies that supplies products, services and concepts to professionals and institutions in the healthcare sector in 28 countries in Europe, North America, South America, Asia and Australia. Arseus is subdivided into four divisions and operates in the markets for pharmaceutical compounding for pharmacies, dental products, medical and surgical products, and medical ICT-solutions. The Belgian company Arseus NV is located in Waregem, and is listed on NYSE Euronext Brussels and NYSE Euronext Amsterdam. The operational activities of the Arseus group are driven by the Dutch company Arseus BV. The head office of Arseus BV is located in Rotterdam.
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