This acquisition is a significant one for Uniphar, strengthening its product access offering in Europe and beyond."Ger RabbetteCEO Uniphar
YES Corporate Finance alongside Capnua Corporate Finance (our Irish AICA partner) are happy to have advised Uniphar in the 100% acquisition of BModesto.
The international pharmaceutical wholesaler BModesto from Lelystad will be acquired by the Irish group Uniphar. Uniphar has bought the Flevoland company with 180 employees for approximately €75 million.
Uniphar is a multifaceted international business that provides integrated services to more than 200 multinational pharmaceutical and medical technology manufacturers. It also has a substantial presence in the Irish retail pharmacy sector, accounting for more than one-fifth of the market.
In 2021, Uniphar generated revenue of €1.9 billion, gross profit of €274.5 million and EBITDA of €86.5 million. With a workforce of more than 2,900, the Group is active in Ireland, UK, Benelux, Nordics, Germany, Switzerland and USA
With the acquisition of BModesto, the Irish-listed company aims to strengthen its position in the continental European market.
Uniphar has been very active in the acquisition market in recent years, acquiring companies and peers in Ireland, the United Kingdom, Germany and the United States, among others.
BModesto, founded in 2014 by Michael Hendriks, specializes in parallel imports of medicines. Parallel import is the purchase of medicines in countries where the rates are lower than in the Netherlands at that time. The pharmaceutical wholesaler from Lelystad supplies the medicines to pharmacies, outpatient pharmacies and hospitals.
Of the €75 million that the Irish pay for the company from Lelystad, €51 million is paid in advance; the remainder depends on future performance. BModesto made a profit of €4.7 million last year and a turnover of €219.2 million. BModesto achieved a gross operating profit of €7.7 million in 2021.
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