Transactions

Dermapharm Holding SE, a listed Germany-based pharmaceutical company engaged in production and distribution of dermatological and anti-allergy medicines, has agreed to acquire Euromed S.A, a Spain-based producer of herbal extracts and natural active for pharmaceutical, health food and cosmetics from The Riverside Company, the US-based private equity firm, via an auction process, for a minimum consideration of EUR 200m.

The acquisition will help Dermapharm to strengthen its expertise and value chain in the herbal medicinal products market. It will also help Dermapharm in expanding its global presence and further expand in Spain through introduction of new products. Dermapharm will continue to sell Euromed’s products to its customer base and use them to produce its own products.

The auction received competitive bids from CVC, KKR, Bridgepoint, Ardian and EQT, Ajinomoto, L Catterton and Innophos. Euromed is expected to generate a revenue of EUR 70m and an EBITDA of EUR 20m in the year 2019. In 2015, The Riverside Company, through its Riverside Europe Fund V, L.P., acquired Euromed, from Meda AB, the listed Sweden-based pharmaceutical company that develops, manufactures, markets, and sells pharmaceutical products, for a cash consideration of EUR 82m.