(microsoft word - 2004 05 26 omega pharma acquires 60 otc brands from pfizer\205)
Press release – 26 May 2004
Omega Pharma acquires a portfolio of OTC and
personal care brands from Pfizer
Nazareth (Belgium) – 26 May 2004 – Omega Pharma has agreed to acquire a portfolio of 60 European OTC and personal care brands from Pfizer for cash consideration of €135 million (approximately $US163 million). The transaction is expected to be completed at or shortly after the end of June 2004.
The portfolio of brands is concentrated in certain therapeutic areas, principally skincare (both medicated and cosmetic), haircare, women’s health, head lice treatment and upper respiratory tract. Some of the leading brands in the portfolio include Angstrom, Buttercup, Claire Fisher, Cyklokapron, Eau Précieuse, Fenuril, Lyclear, Restivoil, TCP, and Trofodermin.
Pfizer announced in January 2004 that it would begin exploring strategic options for these products in order to sharpen its focus in Europe on its core brands that have strong regional and global growth potential. The company’s consumer healthcare product portfolio in Europe has grown significantly in both size and complexity in recent years, through organic growth and the acquisitions of Warner-Lambert and Pharmacia.
For Omega Pharma, the acquired portfolio complements its existing activities. The transaction will provide Omega Pharma with a significant presence in a number of new countries, including Italy, Ireland, Scandinavia and Switzerland. In countries such as France, Germany and the United Kingdom, where Omega Pharma already has a significant presence, the transaction will broaden the company’s position. The transaction also confirms Omega Pharma’s position as a leading consolidator of the pan-European OTC market.
Marc Coucke, Chief Executive Officer of Omega Pharma, commented: “This acquisition establishes Omega Pharma as an increasingly important player in the European OTC-market. Our organisation is strengthened by several high potential brands, as well as geographically by establishing operations in eight new countries. This enlarges significantly our synergistic potential for existing and new Star and Key brands and thus will have a very positive impact on our competitive advantage and organic growth.”
Marc Robinson, President of Pfizer Consumer Healthcare, commented: “This agreement streamlines our product portfolio and enables us to focus our resources on our core brands in Europe, a key region for us.”
Merrill Lynch advised Pfizer on the transaction. Omega Pharma was advised by Banc of America Securities Ltd. and PriceWaterhouseCoopers; financing was provided by BNP Paribas and Banc of America Securities.
Omega Pharma – Press release – Acquisition of 60 OTC brands from Pfizer – 26 May 2004 – 5:40 PM CET – p. 1/2
Omega Pharma, headquartered in Nazareth – Belgium, is a strong growing, and leading European player in healthcare products and services with a strong emphasis on OTC and personal care products sold in pharmacies. Its major brands include Predictor, Davitamon, Bergasol, Wartner, Para and Fat Control/XelleS. It also provides B2B products and services towards dentists, hospitals and doctors.
Headquartered in New York City, Pfizer Inc discovers, develops, manufactures, and markets leading prescription medicines for humans and animals and many of the world's best-known consumer brands. Headquartered in Morris Plains, New Jersey, Pfizer Consumer Healthcare is the world's second-largest consumer healthcare company, with a portfolio of market-leading brands that includes Listerine, Nicorette, Benadryl, Sudafed, Visine, and Neosporin.
Omega Pharma – Press release – Acquisition of 60 OTC brands from Pfizer – 26 May 2004 – 5:40 PM CET – p. 2/2
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