Fagron Australia and Fagron China operational
Waregem (Belgium) / Rotterdam (the Netherlands)[1], 13 November 2012 – Arseus NV announces today that it has further strengthened its worldwide market leadership in the fast-growing niche market of pharmaceutical compounding with acquisitions in Brazil, Colombia and Denmark. These acquisitions will generate an annual turnover of approximately € 12 million in 2012 and an EBITDA margin of 25%. Fagron paid a multiple of 5.5 times EBITDA for the acquisitions. The acquisitions are consolidated as from 1 November 2012.
In Australia, Fagron has entered into a partnership with NxGen Pharmaceuticals, resulting in Fagron Australia being fully operational since 1 November 2012. Fagron China commenced operations as of 1 October 2012. Fagron China will optimise purchasing conditions of pharmaceutical raw materials in China and facilitate the audits of Chinese suppliers.
Ger van Jeveren, CEO of Arseus and Fagron: ‘These acquisitions are a perfect match for Fagron’s strategy to further extend its worldwide market leadership in the fast-growing niche market of pharmaceutical compounding. The acquisitions in Brazil, Colombia and Denmark, the partnership in Australia and the opening of Fagron China enable us to gain clear benefits, not only in terms of purchase, analysis and production, but also in the fields of innovation and product range.
With these acquisitions, Fagron currently has 1,500 employees, including 150 pharmacists, and is active in 28 countries in Europe, North America, South America, Asia and the Pacific. Fagron will further extend its worldwide market leadership through an active buy-and-build strategy and robust organic growth. Fagron has a well-filled pipeline of acquisition candidates in both Europe, and North and South America.’
[1] This press release was sent out by Arseus NV and Arseus BV.
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