STADA purchases British OTC manufacturer Thornton & Ross
08/16/2013 . Ad hoc Update
Bad Vilbel, August 16, 2013 – STADA Arzneimittel AG today signed and concluded a contract for the purchase of Thornton & Ross, a British OTC manufacturer located in Huddersfield, after STADA and the owners had already announced exclusive contract negotiations on this issue on August 6, 2013 (see ad hoc release of August 6, 2013).
The purchase price amounts to 221,117,910 British pounds (at current exchange rate approximately 259,223,810 Euro) in cash. This corresponds to 193 million British pounds (at current exchange rate approximately 226 million Euro) on a so-called cash and debt-free basis. Thornton & Ross has a number of well-known prescription-free (OTC) branded products for a wide variety of indications – among other things, cold, pain and dermatology.
Sales will presumably be consolidated in the STADA Group as of September 1, 2013. From that date, the transaction will also make a positive contribution to net income.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506