Alliance Unichem Plc has expanded its European operations by acquiring a wholesale business in Italy and a chain of pharmacies in the Netherlands.
The company announced on July 31 that it was purchasing a 90 per cent stake in Antica Farmaceutica Modenese SpA (AFM) for £10.7m in cash. AFM is a regional wholesaler based in the Emilia Romagna region of central Italy.
At the same time, Alliance Unichem announced that it was to acquire a 70 per cent stake in Vier Vijzels BV (VV) for NLG33.4m (£9.3m). VV currently owns 10 pharmacies in the Netherlands and is acquiring four more. The current owner of VV has signed a five-year contract to continue expanding the chain.