Charterhouse-backed Cooper agrees acquisition of Vemedia Consumer Health from IK Investment Partners
July 28, 2016
Charterhouse Capital Partners (“Charterhouse”) today announces that its portfolio company, La Coopération Pharmaceutique Française (“Cooper”) has agreed to the acquisition of Vemedia Group (“Vemedia”), one of Europe’s leading producers and distributors of over-the-counter (OTC) drugs, food supplements and medical devices, from IK Investment Partners.
Vemedia, the market leader of OTC drugs in the Netherlands, has invested heavily behind key brands Valdispert (calming & sleeping) and Excilor (medicated foot care). Additionally, Vemedia entered the French market, expanded its export business, and completed six add-on acquisitions, of which Oenobiol and Stardea (both completed during 2016) are the most notable.
Francis Doblin, CEO of Cooper, said: “We see a good cultural and commercial fit between Cooper and Vemedia. The two businesses are highly complementary, with Cooper having a strong footprint in France, and Vemedia across the Netherlands, Belgium, France, Italy, Spain, Portugal and Hong Kong. Together we will leverage our strong market position to pursue industry consolidation opportunities.”
Rob Drenth, CEO of Vemedia, said: “Thanks to the support from IK and the hard work of our employees, Vemedia has expanded significantly at the same time as improving the underlying performance of the business during the last four years. We are pleased with the opportunity to cooperate with Cooper under Charterhouse’s ownership, which will enable our continued growth and international expansion.”
Vincent Pautet, a Partner at Charterhouse, said: “Recent organic initiatives and acquisitions have shown that Vemedia is a platform for growth and consolidation in the European OTC drugs market, providing a strong rationale for the acquisition. Over the coming months we will work with both management teams to integrate the businesses and identify further consolidation opportunities.”