RECORDATI ACQUIRES NATURAL POINT S.R.L. IN ITALY
11 Juin 2018 - 3:01PM
Milan, 11 June
2018 - Recordati announces the acquisition of 100% of the share
capital of Natural Point S.r.l., an Italian company, based in
Milan, active in the food supplements market. The company realized
sales of € 15 million in 2017 and has an excellent profitability
profile. The signing and closing of the transaction took place at
the same time.
Natural Point was established in
1993 with the objective of promoting a culture of healthy use of
food supplements. It offers a wide portfolio of very efficacious
supplements in highly bioavailable formulations, produced with safe
active ingredients, to improve health and well-being. The company's
main product is a particular formulation of magnesium carbonate and
citric acid that has the characteristic of being easily assimilated
into the body, apart from its having an agreeable flavor.
"The acquisition of Natural Point
represents a good opportunity to enhance our portfolio in the
Italian self-medication market with well-known brands and good
market shares" declared Andrea Recordati, Chairman and CEO. "We are
developing a growing presence in the market for food supplements
and the Natural Point brands are a valid addition to our
portfolio."
In the acquisition Recordati has
been advised by KPMG in the financial and tax due diligence
investigation and by Gatti Pavesi Bianchi for the legal aspects.
Sellers have been advised by Ethica Corporate Finance, as financial
advisor, and by Legance - Avvocati Associati for the legal
aspects.
Recordati, established in 1926, is
an international pharmaceutical group, listed on the Italian Stock
Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271),
with a total staff of more than 4,100, dedicated to the research,
development, manufacturing and marketing of pharmaceuticals.
Headquartered in Milan, Italy, Recordati has operations in the main
European countries, in Russia, other Central and Eastern European
countries, Turkey, North Africa, the United States of America,
Canada, Mexico and in some South American countries. An
efficient field force of medical representatives promotes a wide
range of innovative pharmaceuticals, both proprietary and under
license, in a number of therapeutic areas including a specialized
business dedicated to treatments for rare diseases. Recordati is a
partner of choice for new product licenses for its territories.
Recordati is committed to the research and development of new
specialties with a focus on treatments for rare diseases.
Consolidated revenue for 2017 was € 1,288.1 million, operating
income was € 406.5 million and net income was € 288.8
million.
For further information:
Recordati website:
www.recordati.com
Investor Relations
Media
Relations
Marianne
Tatschke
Studio Noris
Morano
(39)0248787393
(39)0276004736, (39)0276004745
e-mail: investorelations@recordati.it
e-mail: norismorano@studionorismorano.com
Statements contained in this release, other than historical
facts, are "forward-looking statements" (as such term is defined in
the Private Securities Litigation Reform Act of 1995). These
statements are based on currently available information, on current
best estimates, and on assumptions believed to be reasonable. This
information, these estimates and assumptions may prove to be
incomplete or erroneous, and involve numerous risks and
uncertainties, beyond the Company's control. Hence, actual results
may differ materially from those expressed or implied by such
forward-looking statements. All mentions and descriptions of
Recordati products are intended solely as information on the
general nature of the company's activities and are not intended to
indicate the advisability of administering any product in any
particular instance.
Natural Point acquisition
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: RECORDATI via Globenewswire
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