STADA becomes a major Consumer Healthcare player by acquiring 15 well-established GSK brands
Thornton & Ross’ parent group, STADA, is significantly expanding its global OTC business agreeing to acquire a portfolio of well-established local and regional consumer healthcare brands from GlaxoSmithKline (GSK) in countries predominantly in Europe including France, Germany, Italy, Poland, Russia, Spain and Switzerland. The transaction represents 15 brands including Venoruton, for venous treatment; Coldrex cold remedy; Cetebe vitamin C supplements; Mebucaine sore throat range and Tavegyl allergy brand. These five brands account for just over half of the acquired brands’ combined turnover.
“As a broad-based European player with a strong presence in multiple markets, STADA is increasingly the Go-to-Partner in generics and consumer health. The brands being acquired, and their geographic presence, are well aligned with STADA’s core countries and our organic activities”, comments STADA CEO Peter Goldschmidt. “This will enable us to drive additional growth alongside our strong growth in the generics business. Under our ownership, we believe there is an excellent opportunity to revitalize and grow these consumer healthcare brands”, Goldschmidt adds.
“We are delighted to be bringing 15 brands with strong local heritage, such as Venoruton, Coldrex and Cetebe into the STADA portfolio,” remarks STADA Head of Europe Steffen Wagner. “This is an ideal transaction for both parties.”
From a geographic perspective, sales of the GSK Consumer Healthcare portfolio being acquired by STADA are distributed broadly, with Germany, Russia, Poland and Spain each accounting for more than a tenth of portfolio turnover. Also among the top 10 countries by portfolio sales are France, Hungary, Italy, Portugal, Serbia and Switzerland, further enhancing STADA’s position as a truly pan-European consumer healthcare player.
The proposed transaction comes after STADA’s acquisition from GSK last year of five OTC skincare brands – Ceridal, Eurax, Oilatum, Polytar and Savlon – as well as Tixylix pediatric cough remedies. The brands, which are also marketed across continental Europe and selected markets in the Asia-Pacific and Latin America regions, added significantly to Thornton & Ross’ consumer healthcare portfolio.
The transaction for the 15 GSK brands is subject to customary conditions and is expected to close in Q2 2020. No financial details will be disclosed of the asset-purchase agreement for full rights, including marketing authorizations.24th February 2020