Farmexpert becomes part of one of world's biggest investment funds' portfolio
Drug distributor Farmexpert, the second largest player on its market, has indirectly entered the portfolio of one of the world's biggest investment funds, KKR (Kohlberg Kravis Roberts & Co).
Farmexpert's majority shareholder, German group ANZAG
(Andreae-Noris Zahn) was taken over by Alliance Boots, which
operates in the drug industry, as well as in the beauty products
industry, a group held in turn by KKR investment fund.
KKR is known as one of the world's most aggressive funds, putting
significant pressure on the companies in its portfolio in order to
maximise its investment.
"This acquisition is key to our future growth and another step in
our development in Europe," said Stefano Pessina, executive
chairman of Alliance Boots.
In this deal, Alliance bought 51.65% from companies controlled by
three other drug distributors: Celesio, Phoenix, and Sanacorp.
ANZAG entered the Romanian market in June 2006 after it acquired
60% in Farmexpert from businessman Eugen Banciu, who holds the
remaining stake. The deal was the first on the Romanian market of
drug distribution.