Transaction
Cowen exclusively advised the shareholders of Ecofarmacia Network SRL (“Ecofarmacia”) on its sale to Phoenix group (“Phoenix”). Phoenix took over the Ecofarmacia pharmacies in Transylvania to expand its Farmexim S.A. and Help Net Farma network.
Founded in 2009, Ecofarmacia was launched as a low-cost pharmacy chain, redefining the concept of a neighborhood pharmacy and becoming market leader in Transylvania. This dominant regional presence fits in perfectly to Phoenix’ Romanian expansion strategy.
Marius-Calin Chereches, Managing Director of Ecofarmacia Network SRL, is very satisfied with the successful company merger: “We would like to thank Cowen for the competent and targeted advice throughout the entire process. As part of Help Net Farma, we see ourselves in a very strong position for outstanding service offerings in Transylvania.”
Client
Ecofarmacia group of pharmacies is located in Transylvania, economically one of the strongest regions in Romania. As a leading provider of pharmacy services, it offers customers additional convenience e.g. with a customer benefit card and six outlets with 24/7 service in addition to excellent drug supply.
Buyer
PHOENIX group is a leading pharmaceutical distributor in Europe. The company offers a unique coverage throughout Europe, present in 27 countries, and, with over 36,000 employees, makes an important contribution to comprehensive health care. PHOENIX is part of Merckle Group. With the Farmexim and Help Net Farma pharmacy and distribution network, acquired in 2018, PHOENIX is a leading provider in Romania and further pursues an expansive strategy.
With 800 employees and ten national distribution centres, Farmexim S.A. is one of the largest pharmaceutical wholesalers in Romania. The pharmacy chain Help Net Farma operates around 220 pharmacies and employs 1,600 people. Both companies are firmly established players in the pharmaceutical wholesale and retail space of Romania.
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