Oriola-KD ro acquire the 03 Apteka pharnacy chain with 70 pharmacies in Moscow
Oriola-KD Corporation has today acquired 100 percent ownership of the Moscow-based Russian pharmaceutical retail company OOO 03 Apteka, which operates 70 pharmacies in Moscow and the Moscow region.
The final purchase price is expected to be some 12 MEUR, and will be finally determined in accordance with terms and conditions of the transaction by the end of 2010. The acquired company has no interest-bearing debt. The purchase price is paid in cash.
Net sales of the 03 Apteka pharmacy chain were some EUR 40 million and operating profit percentage of approximately 5 percentages in 2009. The company employs currently some 350 persons.
The acquisition of 03 Apteka supports Oriola-KD’s strategy to expand its pharmaceutical retail operation in Moscow and also supports the growth of Oriola-KD’s pharmaceutical wholesale business in Russia. After the acquisition, Oriola-KD has 250 pharmacies in Moscow and the Moscow region, of which 180 pharmacies operate under the Stary Lekar brand.
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