German Alliance Healthcare Deutschland, the pharmaceuticals wholesaler part of Alliance Boots Group, gained full ownership in Romanian Farmexpert, the pharmaceuticals distributor.
The German company acquired the remaining 20 percent in the local distributor from Eugen Banciu, Farmexpert founder.
“The acquisition also demonstrates the future potential for the health care sector in Romania,” said Ileana Glodeanu, counsel at law firm Wolf Theiss, which assisted the buyer.
Alliance Healthcare Deutschland acquired a 60 percent stake in the Romanian distributor in 2006, further increasing its controlling stake to 80 percent last year.
Farmexpert is the biggest distributors on the local pharmaceuticals market, posting a turnover of EUR 445 million in 2012. The company has over 976 employees.
Alliance Healthcare Deutschland has a yearly turnover of around EUR 4 billion, employing over 2,700 people.