Alliance Unichem Plc has agreed to acquire Interpharm, the pharmaceutical and
health care distribution division of the Dutch company Internatio-Müller
NV, for £122m (€203m), including £12.4m of debt, the company
announced on October 5. Alliance Unichem is to pay for the acquisition by issuing
new shares worth £112.2m.
Interpharm is the second largest full-line wholesaler in the Netherlands with
a 22 per cent share of the market. It delivers to over 500 community pharmacies,
including 150 in its Kring Apotheek franchise chain, and nearly 150 dispensing
doctors. The company recorded profits of €24.6m on a turnover of €811m
in 1999.
Alliance Unichem said that acquisition was part of its strategy of becoming
a leading European health care group. Pharmacists in the Kring group would be
offered a chance to invest in Alliance Unichem’s retail pharmacy business
in the Netherlands.