February 2, 2005
TAMRO ACQUIRES VOGNE PHARMACY CHAIN IN LITHUANIA UAB
Tamro has today signed an agreement to purchase the Lithuanian pharmacy chain Vogne. The chain currently operates 13 pharmacies with 63 employees in north-western Lithuania. The pharmacy chain Telsiu Vaistine, a fully owned subsidiary of Vogne, is part of this agreement. The Lithuanian Competition Council has approved the acquisition.
"The Vogne chain of pharmacies supports our pharmacy network in Lithuania well and expands our geographical presence to the north-western part of our country", says Gytis Bendorius, Managing Director of UAB Tamro in Lithuania.
Jo Langmoen, CEO of Tamro Group, emphasized that this acquisition fits into Tamro's overall strategy to make investments that complement the core-business of pharmaceutical wholesale. "Last year we strengthened our position in the fiercely competed Lithuanian market by acquiring two pharmacy chains Farmacijos Projektai and Ortopharma," Langmoen said. "We will continue to invest in retail trade to secure and improve our position in the pharmaceutical supply," he added.
In the first nine months of 2004, the sales of Tamro Lithuania were EUR 56.5 million and the company employed 349 people.
Tamro Group operates pharmacies in Lithuania, Latvia, Estonia and Norway and is the leading pharmaceutical wholesaler in Northern Europe. The Group operates in the Nordic countries, in the Baltic States and through a minority shareholding in Russia. Tamro's average share of pharmaceutical wholesaling in the Nordic countries is approx. 50%. Tamro is a subsidiary of the pan-European PHOENIX Group. Headquartered in Vantaa, Finland, Tamro employs over 4,000 people and produces annual revenues of more than EUR 4,400 million.
For further information, please contact:
Gytis Bendorius, Managing Director, UAB Tamro, tel +370 37 401025
Jo Langmoen, CEO, Tamro Group, tel +358 20 445 4050
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