GP Investments has agreed to pay R$241.6 ($136 million; €94 million) for family-owned pharmaceutical company Laboratório Americano de Farmacoterapia, or Farmasa.
 |
|
Farmasa product |
The 54-year old Farmasa develops, manufactures, markets and sells over-the-counter and prescription drugs in Brazil; its portfolio consists of 80 brands and 150 products. For the six months ended June 2007, Farmasa posted net sales of R$148.3 million, a 47 percent increase from the same period in 2006, according to a statement.
GP Investments, which recently closed one of the region’s largest funds on $1.3 billion, said the Brazilian pharmaceutical industry is expected to continue to have double digit growth, like the 12 percent sales increase experienced from 2000 to 2006, as the country’s population ages.
Post-transaction, Farmasa's management team will remain in place.
GP Investments is publicly listed on the Brazilian and Luxembourg Stock Exchanges and was one of the first private equity firms to go public. Since its IPO in June 2006, the company’s share price has risen more than 200 percent giving a market capitalisation of approximately $1.5 billion. Since opening its doors in 1993, GP Investments has raised almost $3 billion from international investors and has acquired 42 companies in 11 different sectors.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: