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.
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 dea
