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Omega Pharma reaches agreement to acquire an
| 15-03-2012
important portfolio of European OTC brands from GSKThe transaction will significantly strengthen Omega Pharma’s product portfolio and will create critical mass for the company in key markets including Germany, the UK, Poland and Italy.
Nazareth (Belgium) – 15 March 2012 (10:30 a.m. CET). Omega Pharma today announces that it has reached agreement to acquire the previously identified non-core OTC brands of GlaxoSmithKline (GSK) in Europe for EUR 470 million (GBP391 million) in cash. This transaction builds on the recently announced divestment by GSK of certain non-core OTC brands in the USA and Canada, the majority of which was completed at the end of January 2012.
The brands being acquired include Lactacyd, Abtei, Solpadeine, Zantac, Nytol and Beconase and generated sales of over EUR 200 million in 2011. The transaction is expected to be completed in the second quarter of 2012, subject to regulatory approvals.
As part of the agreement, Omega has also agreed to purchase the Herrenberg manufacturing site which is located in Germany and employs approximately 110 people. A number of the brands that are being acquired are manufactured at Herrenberg and it is anticipated that existing employees will transfer with the site to Omega Pharma under the provisions of German employment law.
Omega Pharma’s Chief Executive Officer, Marc Coucke commented: “We are very happy with this agreement, which testifies the mutual vision and commitment of Omega Pharma and Waterland, which recently became Omega Pharma’s equity partner. Several brands from the acquisition will become part of Omega Pharma’s top-20 brands, and all of the brands that are the subject to today’s announcement have the potential to grow within our group. The proposed transaction will also provide Omega Pharma with the required critical mass in a number of key European markets – i.e. Germany, the UK, Poland and Italy. We also look forward to welcoming the employees of the Herrenberg site, whose contribution will further strengthen the manufacturing capabilities of our group, to Omega Pharma.”
Omega Pharma is an OTC healthcare company headquartered in Nazareth (Belgium) with operations in 35 countries across Europe and selected emerging markets. Its products are sold across an extensive network of pharmacies and related retail outlets. For further information please visit www.omega-pharma.com.
GlaxoSmithKline is one of the world’s leading research-based pharmaceutical and healthcare companies. It is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com.
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Dutch boutique private equity firm Waterland has topped the third annual HEC-Dow Jones private equity performance ranking compiled by Professor Oliver Gottschalg of HEC Paris business school for Private Equity News.
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Waterland is Benelux Private Equity Firm of the Year 2011 by Private Equity News / Dow Jones
| 19-09-2011Waterland is Benelux Private Equity Firm of the Year 2011 by Private Equity News / Dow Jones. Private Equity News / Dow Jones commented as follows:
"The Dutch mid-market buyout firm has established a reputation as a strong performer and was ranked third in a study of the best-performing firms by business school HEC Paris. During 2010, Waterland bought direct marketing company Ranger Marketing and acquired the Benelux companies of gym company Fitness First. It also backed Waeyaert-Vermeersch Isolatie group, a Belgian distributor of insulation materials."
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Waterland Private Equity Investments B.V. ("Waterland") is pleased to announce the final closing of its fifth institutional fund, Waterland Private Equity Fund V ("WPEF V"), at €1.1 billion, just five months after its initial launch. The support of existing investors combined with significant interest from new investors, caused the fund to be well oversubscribed, surpassing its initial target of €900 million.
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Waterland invests € 100 million in Sarens
| 22-07-2011Sarens, a world leader in the field of crane hire and moving extraordinary loads, has reached agreement with Waterland to invest € 100 million in the capital of Sarens over a period of 3 years. These resources will be used to provide further support to the international expansion plans of Sarens.
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HealthCity and Fitness First announce today that they have come to a proposed agreement for the takeover of all 45 Fitness First clubs in France, Spain and Italy. The clubs are divided between 12 in France, 16 in Spain and 17 in Italy. With this proposed takeover, HealthCity becomes a European market leader within the fitness industry.
Fitness First is shifting its focus to developing countries, particularly in Asia. With that in mind, the sale of the clubs in France, Spain and Italy is a logical continuation of the sale of the Fitness First branches in the Benelux to HealthCity in November last year.
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European policies are driving the growth of biofuels, with biomethanol holding a very competitive position in this space, a cleantech investor said.Hans Scheepers, investment director at growth capital private equity fund Waterland Private Equity Investments, said the second generation biofuel is set to be an industry leader.
In 2009, Waterland made an initial €33m investment into biomethanol technology provider BioMCN (and has since invested more than a further €17m), which is on track to build the world's largest biomass refinery. 'We recognise that the Renewable Energy Directive will lead to a huge market for biofuels in Europe,' Scheepers said.
'There are very few second generation biofuel plants producing at a commercial scale. We liked the company's competitive business and the management team.'Biomethanol is chemically identical to regular methanol and BioMCN uses renewable feedstock that is derived from organic waste materials. Waterland's focus is diverse and spread across sectors that are underpinned by key drivers such as sustainability, the aging population, outsourcing, and luxury and leisure.
'We focus on companies that have a considerable track record and proof of concept. Our capital injection generally goes towards the progression of their business strategy,' Scheepers said.Along this aim, he said he would be open to looking at a corporate partnership for BioMCN moving forward.
'Today, we are selling to both oil majors and manufacturers. We are open to a strategic partnership, if it accelerates the growth of the company.' -
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HealthCity acquires Fitness First Benelux
| 03-11-2010Fitness group HealthCity International has signed an agreement proposing to acquire the shares of the Benelux companies of Fitness First Limited. This amounts to a takeover by HealthCity of the Fitness First clubs and their employees in these three countries.
Fitness First Limited trades under the names of Passage Fitness First in Belgium and Luxembourg, Fitness First in the Netherlands and Just Fit in Belgium, and has 57 clubs. Fitness First is selling its Benelux operation because the company wants to focus on the fast-developing countries, mainly in Asia.
The takeover brings the number of clubs operated by HealthCity International to more than 200 and the chain will become the clear market leader in the Benelux countries. HealthCity was already the market leader in the Netherlands, and recently in Belgium as well after its acquisition of the 11 centres of Sportopolis three years ago and the addition of new clubs since then, but HealthCity had no clubs in Luxembourg yet.
The acquisition is still not fully arranged, but is expected to be completed with two to four weeks. The acquisition will be officially completed and all the Fitness First clubs will come under HealthCity by December at the latest. No announcement was made as to whether the acquisition would have consequences for the employees.
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