Drug distributor Farmexpert, the second largest player on itsmarket, has indirectly entered the portfolio of one of the world'sbiggest investment funds, KKR (Kohlberg Kravis Roberts &Co).
Farmexpert's majority shareholder, German group ANZAG(Andreae-Noris Zahn) was taken over by Alliance Boots, whichoperates in the drug industry, as well as in the beauty productsindustry, a group held in turn by KKR investment fund.
KKR is known as one of the world's most aggressive funds, puttingsignificant pressure on the companies in its portfolio in order tomaximise its investment.
"This acquisition is key to our future growth and another step inour development in Europe," said Stefano Pessina, executivechairman of Alliance Boots.
In this deal, Alliance bought 51.65% from companies controlled bythree other drug distributors: Celesio, Phoenix, and Sanacorp.ANZAG entered the Romanian market in June 2006 after it acquired60% in Farmexpert from businessman Eugen Banciu, who holds theremaining stake. The deal was the first on the Romanian market ofdrug distribution.
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