Oriola-KD Hilding Sverige AB has agreed to acquire Medstop Group Holding AB from Segulah Management IV Ltd. Medstop is Sweden's fifth largest pharmaceutical chain.
The value of the purchase is estimated to amount to 1460 million Swedish Kronor or Eur 176 million. The purchase consists of three separate parts namely, a 680 million Swedish Kronor payout, acceptance of net debt of the acquired company and a conditional earn out payable amount on the basis of the consolidated 2015 EBITDA of Oriola-KD's Swedish retail business.
Oriola-KD would finance the purchase with a bank loan and would be completed by the second quarter of the current year.
Medstop Pharmacy has a chain totaling 65 pharmacies in shopping centers and other locations in Gothenburg, Stockholm and Malmo. The net sales of Medstop in 2012 reached Eur 273 million and the EBITDA was at Eur 11.6 million, reaching nearly 4.2% of net sales excluding non-recurring items. Its market share was at 7.5% at 2012.
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