Celesio branches into contract sales
contract sales organisation in Europe, in a bid to get a foothold
in this market segment and diversify its business.
The stake in Pharmex is intended to compliment Celesio's Solutions Division, which currently consists of Movianto, Celesio's logistics services business.
"Pharmexx is an excellent strategic fit with Movianto. Both companies operate in growth markets, offering services to pharma manufacturers, an area in which Celesio intends to develop its presence further," said Fritz Oesterle, CEO and chairman of Celesio's management board.
"Pharmexx was of great interest to us because we think that this business has great potential to grow and increase the number of its sales reps," company spokesperson, Michael Rüdel, told Outsourcing-Pharma.com.
The German-based company already has a sales force of 3,000 people and is undergoing a period of organic domestic growth and is also in the process of expanding further internationally through acquisitions.
Pharmexx, which currently operates in Germany, France, Spain, Portugal, Italy, Belgium, the Netherlands, Austria, Greece and Switzerland, will also offer Movianto new business opportunities in five new geographical locations in Europe.
The financial terms of the deal were not disclosed, however, the final price will depend on Pharmexx's profit over the next two years, and Celesio also has the opportunity to increase its stake if desired.
Celesio now plans to continue to grow the number of businesses in its Solutions Division, either through further stake purchases or through whole acquisitions.
"We are currently looking for new business opportunities that present themselves," said Rüdel.