Pharmaceutical company Stada (OTCMKTS:STDAF) announced its acquisition of six brands on Friday, one of which is the well-known UK brand Savlon Antiseptic Cream.
Based in Bad Vilbel, Germany, the acquisition will allow Stada to continue to expand its consumer health business in Europe and selected markets in Asia and Latin America.
As of 2018, the company employed roughly 10,416 workers across the globe.
The portfolio includes five skin care bands as well as a paediatric cough remedy from GlaxoSmithKline (GSK), a British multinational pharmaceutical company headquartered in Brentford, London. These brands include Oilatum, Eurax, Savlon Antiseptic Cream, Ceridal, Tixylix and Polytar (which is known under the brand name Tarmed in Portugal and Spain).
Among the six brands lies Savlon Antiseptic Cream, a particularly well known brand in the UK. The cream assists in soothing and preventing infections, aiding the natural healing of minor skin disorders.
The five skin care brands will be transferred to Thornton & Ross, Stada’s British subsidiary.
The deal is expected to be completed in August and is reported to lie in the high double digit million-pound range, according to Sky News.
“We look forward to giving these great brands a new home and a great future,” Roger Scarlett-Smith, Head and Executive Vice President of Stada‘s UK business, commented.
All of the brands acquired by Stada each have a strong brand heritage and offer the opportunity for accelerated revitalization and growth.
“This will strengthen STADA’s position as a go-to partner in the European Healthcare market, and will seize the opportunity to be a leading company in Consumer Health as well as Generics,” CEO Peter Goldschmidt commented on the acquisition.
Stada sells its products in roughly 130 countries across the globe. In its 2018 financial year, the company posted adjusted group sales of €2,330.8 million and an EBITDA of €503.5 million.
As of 13:37 BST Friday, shares in GlaxoSmithKline plc (LON:GSK) were up 1.28%.
