Sensiblu buys Farmaplanet drugstores

Sensiblu, the drugstore chain part of the A&D Pharma group, has bought the 24-drugstore Farmaplanet chain, with the transaction already sent to the Competition Council for approval.
"Farmaplanet Grup SRL has kicked off a negotiation process targeting the sale of the drugstore chain held by the Sensiblu network, with the transaction to be finalised only if the Competition Council approves it," said Farmaplanet representatives.
In turn, Sensiblu representatives said the company "has sealed an in principle agreement to acquire Farmaplanet," adding that "Sensiblu has a development plan which includes raising the number of drugstores." They did not reveal the value of the transaction. On average, a drugstore can be bought for around 130,000-150,000 euros (licence and merchandise stock), so a deal involving 24 stores could amount to over 3 million euros, according to ZF estimates.
Sensiblu had a 233-store chain in September 2010, the biggest in Romania. In the first nine months of last year, Sensiblu's turnover amounted to 179.3 million euros.
Farmaplanet Grup posted a 34.5 million-lei (8.2 million-euro) turnover in 2009, 4.6 million-lei (1.2 million euros) in losses, and had 166 employees, according to Trade Registry data. Most of Farmaplanet's drugstores are located in Real galleries, according to the company's website.