IMPERIAL expands its participation in the distribution of pharmaceuticals in Africa
IMPERIAL has acquired a 70% interest in Imres BV for €46 million cash, effective 1 September 2014. Imres, a wholesaler of pharmaceutical and medical supplies to NGO’s, hospitals and retailers, operates in the international medical relief industry, targeting mainly African emerging countries with developing healthcare markets and needs.
Imres plays a key role in the supply chain to end users, offering sourcing, inbound logistics, supplier audits, quality control, warehousing, distribution and transport coordination. Its product portfolio includes pharmaceuticals, medical kits, disposables, hospital equipment and related medical products.
Mark Lamberti, CEO of IMPERIAL Holdings, said, “The transaction is consistent with IMPERIAL’s espoused strategy to expand its participation in the distribution of fast moving consumer goods and pharmaceuticals in Africa, complementing the capabilities and market presence of IMPERIAL Health Sciences, MDS Logistics, Eco Health and Pharmed, acquired over the past two years.”
Marius Swanepoel, CEO of IMPERIAL Logistics Africa, said, “We have secured Imres’ experienced and expert management team, which strengthens and complements the group’s existing skills set in pharmaceutical distribution in Africa. Imres adds sourcing and procurement capabilities to IMPERIAL’s service offering and it can leverage off Imperial’s existing network and capabilities on the African continent.”
Imres is headquartered in Lelystad in the Netherlands and has an annual turnover of approximately €60 million.
The transaction includes put and call arrangements relating to the transfer of the remaining shares in the company over an extended period to Imperial. All conditions precedent have been fulfilled.