Dutch merger

June 17, 2010

TWO European companies have agreed to form a drug distribution joint venture operation which will create the second-largest Dutch pharmacy company. Stuttgart-based Celesio AG will contribute 62 pharmacies with annual sales of €170m (A$246m) to the deal, which will see it own 45% of a company called Brocacef Holding which is a subsidiary of Phoenix Group. Brocacef already owns 53 stores, with the combined group having 115 pharmacies and more than €1.1 billion in revenue, with about 1600 employees. Celesio ceo Fritz Oesterle said the deal followed a review of countries where the company had a small market share. “We consider the merger with Phoenix to be the best option to further boost the positive development of our activities in the Dutch pharmaceutical market,” Oesterle said, adding that “the companies can reduce purchasing and administration costs by working together”.

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Pharmacy Daily | Dutch merger

Dutch merger

Other recent headlines

PD breaking news – Class action filed against Johnson & Johnson

AMA calls for more STI action

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SEARCH PHARMACY DAILY

Featured video

Recent issues

INDUSTRY JOB VACANCIES